1. Introduction
Consumer product safety is a major contemporary concern for all market economies. This digest outlines the need for some minimum public regulation
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(Section 2), highlights best practice regulatory powers regarding product recalls (Section 3) and discusses the importance of broader accident information disclosure duties imposed on suppliers, particularly in developed countries (Section 4). These enhance accident informationsharing arrangements have been increasingly introduced among national regulators and international organisations.
2. Regulatory standards
Defective products impose various direct and indirect costs on consumers and the broader community.
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Global changes in markets and technologies have combined with heightened consumer expectations regarding product safety, generating demand for regulatory reforms.
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A particular concern in developed countries worldwide (and increasingly now middle-income countries), including among ASEAN Member States, has been the influx of low-priced manufactured goods from major exporting nations. ASEAN Member States are also increasingly integrated into pan-Asian production chains, with components being sourced in the region for assembly and exporting to developed country markets through a rapidly growing network of free trade agreements.
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These trends heighten risks to traders and consumers if the products are later found to be unsafe. Furthermore, the rise of e-commerce has reduced entry barriers for cross-border trade, bringing smaller businesses into the market, which may be less able or inclined to focus adequately on maintaining consumer product safety.