Brazen Theft of American Know-how
The action in the stock market is signaling that investors are afraid of the big bad wolf. That is a trade war that would upset the status quo so enjoyed by the elites.
Forget tariffs, this is about something much more pervasive and in-your-face, and that’s the brazen theft of American know-how.
China’s intellectual property theft, which could be as much as $600 billion annually by one estimate, and the Trump administration is ready to get justice. Stopping the Broadcom/Qualcomm deal was just the beginning.
Ironically, the news put pressure on technology more than any other sector as they are both the biggest victims of this theft, but also the access to China even with the payoffs and rip-offs.
China Theft and Intellectual Know-How
Three Areas of China’s IT & Counterfeiting Theft:
• The high-end estimate for counterfeit and pirated tangible goods imported and exported is $41 billion.
• The estimated value of pirated U.S. software is $18 billion.
• The high-end cost of trade secret theft to U.S. firms’ estimate is $540 billion, amounting to 3% of GDP.
Office of the Director of National Intelligence’s
Although China’s intellectual theft is well-known, the country is galloping ahead with its own technical abilities and could soon be a force without cheating. Competition is good, although it would be a shame to see China move to par with America and Silicon Valley from so many years of nonstop theft.
This table is from one of many intriguing articles underscoring China’s rapidly improving abilities.
Data AI Technology Patents Granted
Source: Author estimates using IPC code in Appendix 1 and PATSTAT database.
Note: USPTO: United States Patent and Trademark Office; SIPO: State Intellectual Property Office of The People's Republic of China; JPO: Japan Patent Office; PCT: Patent Cooperation Treaty; EPO: European Patent Office.
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