Trade in counterfeit and pirated goods, mostly originated in China, is beginning to pose a major challenge, the OECD warned today.
Its report into counterfeit goods found sales of fakes has increased over the past three years and now represents 3.3% of world trade.
It said knock-off watches and dodgy handbags are generating at least $700bn a year as consumers “enjoy” the thrill of finding quality fakes.
Recent psychological research illustrates a number motivations, such as the “thrill of the hunt” for what is fake, being part of a “secret society” and genuine interest, the report said.
The most commonly counterfeited goods are perfumes, handbags and leather goods, clothing, footwear, watches, toys and jewellery.
