mid continuous tariff increases and sanctions between two key powers, namely US and China, one wonders what will be the game plan for the likes of the super powers moving forward. China is well know for it’s ability to take virtually any commodity and re-design, re-engineer and re-develop it for the world. At times it does so by innovating on existing products and defying intellectual property rights, much to the dismay of it’s western counterparts. In fact it is estimated that intellectual property infringement by China on the US alone costs between $225b and $600b annually.
Some years ago, whilst living and running my own business (an International School) in Guangzhou in the south of China, I was asked to present on this very important topic by providing evidence of whether China is playing a fair game. Sadly, the answer is still no – and nothing much has changed despite China’s official membership to the Trade-Related Aspects of Intellectual Property Rights (TRIPS) since 1995. Some argue that TRIPS does not explicitly address economic cyber espionage for commercial or trade gain, although by creatively interpreting and applying the terms of TRIPS, an effective international legal remedy to commercial cyber espionage is possible.
Escalating tariffs and avoidance of payment of royalties due means that, ultimately, the losers are the public. China’s pockets run deep and the US will be well advised to take matters seriously. You can find my former presentation here or access it from the Rootcon website at Cyber Espionage – How to sell a country in…17 days!