As a father of four, Bob Eckert has his hands full. As CEO of Mattel Inc (NSYE: MAT), the world's largest toy company, Eckert has a crisis on his hands. It is a case of Global economy and outsourcing meeting the safety of kid’s toys. The stakes are high for several players across the globe and the fallout from the recall will likely reach well beyond toys and Mattel.

The recall touches on the safety of toys for our children, quality control, import standards and how China, the second-largest trading partner of the United States after Canada, recovers from several recent product safety issues.

The volume of toys recalled is staggering – the issues at hand significant.

The recall was announced by the U.S. Consumer Product Safety Commission and includes approximately 9.5 million toys in the United States, and 11 million in foreign countries. These numbers include 7 million Polly Pocket dolls and accessories, 1 million Doggie Daycare sets; 680,000 Barbie and Tanner play sets; 345,000 Batman and One Piece magnetic action figures; and 253,000 "Sarge" die-cast miniature toy vehicles.

This recall comes on the heels of a world-wide recall Aug. 1 of about 1.5 million Mattel toys.

From CNN Money

“Tuesday's announcement marks the latest in a series of recalls of defective products made in China, which is the second-largest trading partner of the United States after Canada.

China produces 80 percent of the world's toys.

The manager of the Chinese toy factory that was producing the tainted products recalled August 2 hanged himself in one of the factory's warehouses over the weekend, Chinese government officials said. According to the government-run China Daily newspaper, police suspect Zhang Shuhong committed suicide because of the decision by the ‘General Administration for Quality Supervision, Inspection and Quarantine to ban his toy export business last week after 967,000 of the toys it had made were recalled.’”

Mattel took out a full page ad today in The New York Times, The Wall Street Journal and USA Today where Eckert said that, "nothing is more important than the safety of our children." The online version of the ad includes a video of Eckert spelling out the company’s commitment and specific plan to ensure all Mattel products are safe.

Photo Credit to Chip Somodevilla, Getty Images