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Thread: US accuses China of cyber-espionage on American companies

  1. #21
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    Re: US accuses China of cyber-espionage on American companies

    The Obama Administration is proving once again how big of a joke it is. How do they expect to detain these men? How can they possibly claim the moral high ground when our government is spying on France's energy companies?
    "Men did not make the earth ... it is the value of the improvement only, and not the earth itself, that is individual property... Every proprietor owes to the community a ground rent for the land which he holds." -- Thomas Paine, Agrarian Justice
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    Re: US accuses China of cyber-espionage on American companies

    As noted previously in this thread, China, like all nations with major Intelligence operations engages in a range of espionage, including industrial espionage. This never was a big surprise. The indictments, though, were unprecedented.

    Now that the markets have sifted through the events, including China's retaliatory measures, it appears that the developments have led to more favorable prospects for China's technology industry. From Bloomberg.com:

    Investors in Chinese technology shares can thank the U.S. Justice Department for turning their unprofitable bets into the stock marketís biggest winners.

    The benchmark gauge of mainland technology companies has rallied 5.5 percent since May 19, when the U.S. indicted five Chinese officials and put them on the Federal Bureau of Investigationís most-wanted list for cyber crimes. After the move, China excluded Microsoft Corp.ís Windows 8 from a state purchasing order, asked banks to switch from International Business Machines Corp. (IBM) servers to a local brand and said it will vet technology firms for national-security breaches.


    FBI

    Although the initial market reaction is short-term in nature, long-term dynamics could be involved. First, China has the world's second largest economy, which is still on a trajectory to become the world's largest in the medium-term. Second, with a growing middle class and business sector--even as China faces other very significant challenges--China's capital investment in technology will likely grow rapidly through at least the medium-term. Third, with U.S. companies in broad range of technology or knowledge-related fields (consulting firms were hit by restrictions, too), Chinese firms will play a larger role for investors seeking to leverage the growth in China's technology investment.

    IMO, existing counterespionage practices ranging from with behind-the-scenes diplomacy to improved cyber protections would have been a more appropriate response, especially as such espionage is par for the course among all countries with major Intelligence capabilities. The path that was taken could only have invited Chinese retaliation, as China would not want to appear weak. The more traditional approach could have mitigated such a harsh reaction and limited the impact on American companies doing business in China.

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