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In February, the U.S. trade representative named Baidu as one of the world's "notorious markets" for piracy and copyright infringement.
The Notorious Markets List mentions "red zones" in Bangkok, including Panthip Plaza, but another well-known venue, the Patpong Night Market, is not on the list.
BEIJING (AP) — The United States government has labeled China's top search engine, Baidu, and Taobao, a popular Chinese-based e-commerce platform, as "notorious markets" linked to sales of pirated and fake goods.
China has a history of making and consuming counterfeit goods, and vendors on Taobao have not been a notable exception.Up until the end of last year, Taobao was on the American government's list of "notorious markets".
The Chinese announcement about the handbag seizure comes as the office of the U.S. Trade Representative is finalizing its 2012 Notorious Markets List, a worldwide roster of online and physical markets where counterfeit goods are openly and illegally sold.
The avenue, which is not mentioned on the U.S. Notorious Markets List, is also known for its fake luxury watches, which can be hard for everyday consumers to tell from the originals.
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The platform, which somewhat resembles eBay, has been blacklisted by the United States Trade Representative's office as a notorious market for counterfeit goods.
The Europeans are not alone in their concern about high-speed computerized trading, which has led to several notorious market disruptions in recent years.
In November 2011, US industry body the RIAA was labelling the site as a "notorious market" for piracy that was "specifically designed to enable members to upload music and video files, hundreds of thousands of which contain unlicensed copyright works".
Several notorious market failures and accidents in recent years all seem to be related to HFT practices.
An example is the notorious efficient markets hypothesis, which holds, in its strongest form, that "financial markets are the best possible guide to the value of economic assets and therefore to decisions about investment and production".
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