{"id":8695,"date":"2011-05-18T09:47:02","date_gmt":"2011-05-18T13:47:02","guid":{"rendered":"http:\/\/www.bahamasb2b.com\/news\/?p=8695"},"modified":"2011-05-18T09:47:02","modified_gmt":"2011-05-18T13:47:02","slug":"a-look-inside-the-billion-dollar-fake-goods-market","status":"publish","type":"post","link":"https:\/\/www.bahamasb2b.com\/news\/2011\/05\/a-look-inside-the-billion-dollar-fake-goods-market","title":{"rendered":"A Look Inside The Billion Dollar Fake Goods Market"},"content":{"rendered":"<p>For Bahamian straw vendors and other New York tourists, picking up a knockoff Chanel bag in Chinatown is a trip highlight.<\/p>\n<p>But that could soon change.<\/p>\n<p>The city councilwoman whose district includes Chinatown recently proposed<a href=\"http:\/\/www.nypost.com\/p\/news\/local\/manhattan\/fine_for_fake_get_real_TtuVR2WtBGhrvBhm9sbqBI\"> <\/a>making the purchase of counterfeit goods a crime, punishable by a $1,000 fine and a jail term of up to a year.<\/p>\n<p>The legislator, Margaret Chin, says the law is necessary to deter  counterfeiters, and that buyers of counterfeit goods cost the city  around $1 billion in tax revenue annually.<\/p>\n<p>Unsurprisingly, the backlash from Canal Street shoppers has been huge.<\/p>\n<p>Business Insider ventured down to Chinatown to survey the counterfeit scene.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>In case you thought that Bahamian straw vendors were the only ones who engaged in the practice of selling fake bags&#8230;<\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"rop_custom_images_group":[],"rop_custom_messages_group":[],"rop_publish_now":"initial","rop_publish_now_accounts":{"facebook_10223285771444175_51037792744":""},"rop_publish_now_history":[],"rop_publish_now_status":"pending","footnotes":""},"categories":[3],"tags":[91,31],"class_list":["post-8695","post","type-post","status-publish","format-standard","hentry","category-business","tag-china","tag-crime"],"_links":{"self":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/8695","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/users\/17"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/comments?post=8695"}],"version-history":[{"count":0,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/posts\/8695\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/media?parent=8695"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/categories?post=8695"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bahamasb2b.com\/news\/wp-json\/wp\/v2\/tags?post=8695"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}