To the Point
Chinese Imports and Product Safety
Toys, tires, foods and toothpaste have raised questions about the safety of imports from China. Is China trying to clean up its act? What about the demand for cheap products from US companies--and from consumers? Also, stock markets responds to Federal Reserve action on the sub-prime lending crisis. On Reporter's Notebook, do coal mines have to be so dangerous?
By Warren Olney • • 1h 0m ListenToys, tires, foods and toothpaste have raised questions about the safety of imports from China. Is China trying to clean up its act? What about the demand for cheap products from US companies--and from consumers? Also, stock markets responds to Federal Reserve action on the sub-prime lending crisis and, on Reporter's Notebook, three rescuers have died trying to save six trapped miners. We talk with a world authority on coal mining operations.
US Consumer Product Safety Commission acting Chair Nancy Nord announces the recall of millions of toys manufactured by Mattel Inc. at the commission's headquarters August 14, 2007 in Bethesda, Maryland.
Photo: Chip Somodevilla/Getty Images
In this episode
3 storiesFed Moves to Cut the Discount Rate, Lifts Stocks
With the sub-prime lending crisis rocking financial markets, the Federal Reserve today c ut the so-called "discount rate" by half a percentage point to 5.75%. The Dow Jones , Nasdaq and Standard & Poor's 500 went up. Peter Coy is economics editor for BusinessWeek magazine.
Read the story5 minChinese Imports and Product Safety
Unsafe tires. Tainted food and toothpaste. Millions of toys with lead paint and tiny magnets. The safety of those products is raising serious questions in the US and, with confidence in the label "Made in China" crucial to that nation's economic expansion, the international safety scare has caught the attention of Chinese officials.
Read the story35 minSearch Suspended after Mine Rescue Turns Deadly
In Huntington, Utah, underground rescue operations have been halted at the Crandall Canyon mine after three rescue workers were killed. The cause is said to have been a seismic jolt or "mountain bump like the one that trapped six miners 11 days ago.
Read the story8 min
