China Dolls

So how much of that 20-dollar Barbie doll "made in China" does China actually get? About 35 cents (or about three of her toes), according to an economist cited in this recent article.

Why? Because "often these days, 'Made in China' is actually 'Made by Someone Else' - by multinational companies from Japan, South Korea, Taiwan and the United States that are using China as the final assembly station in their vast global production networks" and who reap most of the profits.

"Analysts say this evolving global supply chain - which often tags goods at their final assembly stop - is increasingly out of step with global trade figures, which serve to inflate China into a bigger trade threat than it may actually be."

In other words, international sales that are being chalked up in China's favour (or disfavour, depending on your perspective) are actually being pocketed for the most part by American or other foreign companies.

"In a globalized world, bilateral trade figures are irrelevant," says the economist. "The trade balance between the U.S. and China is as irrelevant as the trade balance between New York and Minnesota."

Actually, not even cheap Chinese labour may save Barbie from her decline at the hands of the more popular and more ethnically diverse Bratz dolls. In a desperate move to revive slumping sales of the behind-the-times Barbie, Mattel has decided to revive her romance with Ken, who has undergone a makeover that includes a more manly jawline, a motorcycle jacket and cargo pants, and some attractive dabbling in Buddhism, reflecting perhaps his pseudo-Asian heritage.