Posted on 03/24/2018 11:41:33 AM PDT by Thalean
Tracking the economic value of IP theft is difficult, but a few recent estimates should give us pause. According to estimates from William Evanina, the director of the Counterintelligence and Security Center during the Obama Administration, cyber-espionage alone cost the U.S. economy $400 billion in 2015. This estimate was extrapolated from reports from 140 American companies with interests in China.
As costly as this is, the real concern is the origin of said cyber-threats. Evanina claims that China’s government itself was behind 90 percent of all cyberattacks—not rogue companies or basement-dwelling lone-wolf hackers. This is troubling: at best we should see it as “sharp dealing” and at worst IP theft of this magnitude could be considered an act of war.
This figure also underestimates the actual damage of IP theft. Why? Because companies, especially publicly traded companies, are likely to mitigate damage estimates so as to avoid hurting their fragile business relationships with Chinese government officials—or their stock prices. After all, very few investors would be enthused if 20 percent of their profits were stolen by a hostile government.
(Excerpt) Read more at amgreatness.com ...
If we could get them to pay for our IP, we would run a trade surplus. It's all about leverage, not efficiency.
Without even reading the article, the Chinese don’t give a hoot about Intellectual Property. If it is out there, to them, it is fair game.
I'm afraid in most cases we'd just be stealing back.
Thanks for that informative tidbit.
Just about everything Trump does, I think to myself, about time someone did this.
I can remember back in the 70s when Japan was stealing all our technology. You could take apart an integrated circuit and see an American logo under a microscope.
Remember, Trump wouldn’t build a hotel in Russia because they wanted to own 51% of it.
China refuses to buy many things from us unless we manufacture it in China. Then they steal our technology and start up their own companies. There are more Chevys built in China than there are here.
We sold our last remaining precious metal mine to China. China closed it and opened up their own mine. We couldn’t get the super magnets necessary for our wind generators and manufacturing went to China.
China was slow to adapt to high speed rail. They took the technology other countries developed and reverse engineered it. Now communist California will buy our trains from China.
We spend a huge amount of money developing new drugs and it remains proprietary property for so many years to allow the company to recoup their costs. China just reverse engineers it.
When you look at the history of mankind, technology was nearly a flat line until they allowed us to own our intellectual property in our Constitution. The same thing happened during the Renaissance Period. The plague whipped out a good portion of our population, up until then, the average man was not allowed to own property, there was no food until they allowed people to own their own farms. The gifted artists were paid to create their art.
We are entering another renaissance with 3D printing. While still in its infancy, it will become mainstream. The incredible costs of providing the engineering to develop a product, the engineers to create the tooling and the tool makers and all their support from janitors, receptionists, material suppliers, and the buildings, the trucking and warehouses, all those jobs will disappear in many cases when an individual can sit at a computer, develop his idea and hit “print”. Then he can sell his product anywhere in the world to other people that can just hit the print button.
Detail like in those incredible theaters built in the 1930s will come back. Artists will be able to replicate their statues and figurines in any size and sell them anywhere in the world.
Something has to be done to protect our creations. Neil Young was cussing and complaining about music being distributed in the digital age where the artist many times never sees the money.
President Trump likes our sovereignty and hates globalism.
He doesn’t want to kill people in Egypt, Libya and Syria for the sake of regime change.
He got Saudi Arabia to turn back the clock to pre 1979 and give women’s rights back.
He recognized that global warming alarmism was a means to redistribute our manufacturing to other countries and cede some of our sovereignty to the globalists.
He wants to make it harder for foreigners to get H1-Bs to compete with Americans.
He wants to deport Visa overstays.
He wants to deport illegal aliens.
He wants to do away with chain migration.
He is calling out rogue activist judges that make law.
He is restructuring federal agencies so that no one individual can make laws.
Hopefully he is restructuring our intelligence community so they can’t use our vast intelligence gathering to politicize our intel community.
He is giving some of our land back that Obama was so proud of taking to restrict oil, ranching, mining and lumbering from.
He gave us our seasonal creaks back and the ponds for cattle.
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