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China Involved in 90 Percent of Espionage and Industrial Secrets Theft, DOJ says
- irishcoffee 8y agoSurprise?
- thwy12321 8y agoPoliticians in this country have no backbone, and scorn the only one ever elected to do something about this.
- mc32 8y agoWhat’s more amazing is that most of the companies going into China knew this was a severe risk, but yet they could not resist the lure —the lure of a ginormous market, cheap labor, and the arrogance thinking they could stay one step ahead. Finally they’re geyting called out and taken to task, but, the proof of the pudding is in the eating, so we’ll have to see if the threats and negotiations work.
- fipple 8y agoIt’s because the CEO making the decision will have exercised his options and sold them and retired before the chickens come home to roost.
- burfog 8y agoI've seen it justified like this: Company X goes to China. They do well, putting companies Y and Z out of business. Eventually they too are destroyed by new Chinese competition, but they make money until that happens. Due to competition, this is inevitable. Somebody will be that company X. Be that company and live longer, or try to resist and die sooner. It's a very pessimistic fatalistic view of things, simply assuming that local industry is doomed because the local industry is unable to enforce an agreement to stay out of China. It is assumed that any such agreement (if even legal) would have a defector. It may even be assumed that stockholders would demand being the defector. The USA makes a feeble attempt to fight this via ITAR, but that doesn't help unless a regulator notices that something can be considered to be weapon-related.
- zachguo 8y agoDOJ is definitely right. As they claimed 2008 financial crisis was caused by a tiny bank in NY Chinatown.
- justicezyx 8y agoThe propaganda machine is moving. While emphasizing the IP theft, the Chines government is emphasizing the remarkable profit "extracted" by US companies.
- jacquesm 8y ago“One example was the conviction of a Chinese company—the Sinovel Wind Group Company—for stealing wind turbine technology from a U.S. company resulting in the victim losing more than $1 billion in shareholder equity and almost 700 jobs, over half its global workforce,” Cry me a river: https://en.wikipedia.org/wiki/Enercon#Patent_dispute https://en.wikipedia.org/wiki/Enercon#Patent_dispute
- blub 8y agoThat's funny indeed, but China is stealing intellectual property also from the EU. And many EU companies still haven't learned the lesson - they continue doing business in China and sharing intellectual property willingly.
- jrnichols 8y agoLike the German trains that they reverse engineered. https://www.rbth.com/blogs/2015/08/11/rise_of_the_clones_chinese_knockoffs_undercut_russian_arms_exports_48345.html https://www.rbth.com/blogs/2015/08/11/rise_of_the_clones_chi...
- lyrachord 8y agoWTF Why these creatures are afraid of China?
- throwaway4t7t 8y agoWho does the other 10%?
- jobigoud 8y ago...that they kow of. Isn't there an implicit survivorship bias in these things? Maybe it's 99%, maybe it's 80%, without the unkowns unknowns you can't compute that percentage.
- rootsudo 8y agoNothing new, Read some 90's books on the same NetSec like Corporate Espionage, by Ira Winkler.