The 2012 Olympics from London, England, begin this Friday night. While we look forward to the outstanding competition among world class athletes from around the globe, there's been no shortage of controversy associated with the summer games. Short- staffed private security for the venues, London cabbie protests, and made- in- China US team uniforms have provided plenty of distraction to the impending splendor and excitement of these Olympic games.
As for the flap about our Ralph Lauren designed US uniforms being made in China, I think it's much ado about nothing. According to the Wall Street Journal, researchers at the Fed calculate that goods labeled "Made In China" accounted for just 2.7% of our US spending on goods and services in 2010. And that included everything from cars to clothing to health care. Listen, we've got much bigger trade issues with China than who makes our Olympic outfits, and the political overtones of this so called controversy have more to do with domestic employment and economic issues than anything else. So let's get over it, sit back, cheer on our US Olympic athletes and let the games begin!
That's my perspective. What's yours?