Part 7/11:
The implications of China's actions extend beyond trade. O'Leary elucidated how Chinese business practices—including the replication and replacement of American innovations—pose significant threats to U.S. companies. He recounted an anecdote regarding a product called “Drain Wig,” which had faced over 40 knock-offs in China, eventually leading to its demise in the market. This serves as a microcosm of the larger issue of how American innovations are undermined and replaced by cheap imitations.