were taken by undercover police officers while they watched a team of seven south american thieves clean out an old navy store. shirts at $22.50, and they got the whole rack. when police moved in to make the arrest, they found enough merchandise to fill a room. all taken in less than an hour without anyone inside the store noticing a thing. [ticking] we have never seen a problem of this size and magnitude in world history. now hang on. in world history. there s more counterfeiting going on in china now than we ve ever seen anywhere. name an american brand. any brand. any kind of product. just name it, and we ll tell you something about it. it s probably being counterfeited in china as we speak. this is the most profitable criminal venture, as far as i know, on earth. counterfeiting. counterfeiting and your partners don t kill you. welcome to 60 minutes on cnbc. i m steve kroft. in this edition, we look at the multibillion dollar business of international c
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