Problem:
In the business world, what does the general public think of the controversy of intellectual property rights? Specifically, whereas the U.S. makes it illegal to buy pirated music or DVDs, in China locals and tourists can buy them from unlicensed street vendors for $1 or less. If the locals claim their much lower monthly income (as compared to the much higher income in the developed world) entitles them to lower prices, what does this do to consumer practices such as this?
Why are intellectual property rights not able to be regulated for consistency in international business to avoid such an issue?
Just out of curiousity, if a U.S. citizen went to China and purchased pirated CDs or DVDs, how would our customs laws come into play once the citizen tried to re-enter the U.S. with the items.