While watching Ben Bernanke speak today about inflation, specifically in the lag variables of inflation in the Phillips Curve, which most Conservatives claim to be dead; an interesting event was reported. China has decided it has a product safety crisis. The following lead paragraph from a news article illustrates the issue:
China executed the former head of its food and drug watchdog on Tuesday for approving untested medicine in exchange for cash, the strongest signal yet from Beijing that it is serious about tackling its product safety crisis.
I suggest you read the article and think in terms of a totalitarian government and 19th Century American Laissez Faire Capitalism where railroad tycoons could say "law, I am the law" and mean it. Now, if they would just get the bastard with the tainted cat food.