China's 'snake oil' capitalism

Early Coca-Cola ad

Before everyone starts hyperventilating about the safety of Chinese imports, a little historical perspective would be helpful.

Don't get me wrong, I'm all for making sure that the stuff we import to eat, feed our pets, play with and ride on should be safe.

But it's not simply a case of unscrupulous Chinese companies trying to cut costs, shave corners and -- literally -- make a killing on their American customers. (Turns out they're doing the same to their fellow citizens, as today's NY Times reports.)

Think of today's Chinese entrepreneurialism as somewhat akin to our own burgeoning and unregulated 'snake oil medicine' period in the 19th century.

Many of the over-the-counter products -- especially health- and beauty-related -- that we take for granted as safe and effective today come out of that rather shadowy past.

And let's not forget Coca-Cola, whose original jolt of cocaine gave 19th-century Atlanta ladies a nice little pick-me-up in the afternoon.

As the Times points out today, the Chinese government is VERY interested in seeing that the wild and wooly aspects are toned down and put under stricter regulation.

All well and good, but what about OUR lovely outsourcing multinationals who take the approach that regulation of these products is somehow beyond their responsibility. Who's going to help them lay claim to their moral responsibility?

As they say, 'caveat emptor'.

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Coverage --

• Today's NY Times: "In Food Safety Crackdown, China Closes 180 Plants"

-- Dan Damon

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