dangerous exports

dani rodrik draws the parallel between defective chinese goods and defective american financial instruments (i.e. mortgage backed products) that begs to be made in a NYT article:

Politicians, regulators and financial specialists outside the United States are seeking a role in the oversight of American markets, banks and rating agencies after recent problems related to subprime mortgages.

Their argument is simple: The United States is exporting financial products, but losses to investors in other countries suggest that American regulators are not properly monitoring the products or alerting investors to the risks.