You're right - it's easy enough to encrypt and obscure data on a computer such that your typical person cannot find it. Considering that being tech savvy is not necessarily a requirement for a customs agent and it becomes that much easier.
However, the extent to which a search can be done is really the question. After all, what is the point of a customs search? Unless I'm mistaken, it's to find prohibited items like plants, foods, drugs or items of taxable value. Hence, the phrase, "I have nothing to declare." You can look at the laptop to confirm that it is not some special non-importable "Fidel Castro edition" or something. But the data on it? There's nothing taxable or non-importable about data. That would be the same as the agent saying, "Oh, look you have the Harry Potter book series. Let me detain you here while I read all of them." Rather, the system should be more like that in Korea. "Oh, you came back from China - what books ... Mao's Red Handbook? Communist material is prohibited and we will confiscate." That simple. The data should be outside of the customs agent's jurisdiction.

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RE: Government Laptops & Corporate Laptops
Unfortunately, customs do have the authority to search anything being brought into the country except diplomatic pouches. Refuse a search and you can be refused entry.
Obviously, though, this is pretty easy to bypass: Encrypt your data and archive it online. Or create a second username on your computer and say the laptop is issued by your employer and you don't know what other accounts contain. Or use a truecrypt-encrypted volume. Or don't take secret data out of the country.
Anyway, here's my point: The rules (probably) say they can search your laptop. The fact this is unenforceable and arguably unethical doesn't stop it being the law.
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