A GDP equal to China's is driven by counterfeiting products

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Illegal trade is the production, export, import, sale and purchase of goods outside the legislation of a specific jurisdiction. It can happen in the following ways: Smuggling, cargo theft, piracy and forgery. It is about counterfeiting that we are going to deal with in this article.

Counterfeiting is a global problem that affects many different sectors of the industry and is expected to grow by 3% per year until 2020. The cosmetics, beverages and cigarettes industries are among the main targets of counterfeiters.

According to consultancy Euromonitor, in an article signed by Philip Buchanan and Lourdes Chavarria, in 2014 the counterfeiting earned in the world the equivalent of China's GDP, in other words, US$ 12 Trillion. The World Trade Organization (WTO) says that a brand that has counterfeiting problems loses on average 20% of its market to it....