Aug
23
The Hidden Cost of Your Wardrobe
By Jodi LaMarco
The price of imported Chinese clothing and fabrics have dropped by 25 percent in the U.S. since 1995, due in part to a high demand for cheap goods from retail chains.
Factories in the developing nation have cut costs by dumping their waste water into rivers, thus avoiding water treatment expenses. The plague of contaminants affecting China's waterways comes at a time when 33 million lack access to safe drinking water.
Former chief economist for Morgan Stanley Asia, Andy Xie, described the situation by saying, "Prices in the U.S. are artificially low. You're not paying the costs of pollution, and that is why China is an environmental catastrophe."
WSJ: August 22, 2007
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