Is China Stealing Intellectual Property From United States Developers?
Even a Democratic senator recently begged President Trump to keep pressure on China to prevent the rival country from pilfering intellectual property from the United States. Currently there are few legal barriers to prevent China from successfully stealing from United States developers. This is especially true amidst the trade war that Trump started.
Delaware Senator Chris Coons told CNBC: “My hope is that the president, having gotten us to this point, won’t back down just for some commitment to buy a couple of shiploads of soybeans — but that we will get something that is enforceable around IP theft.”
The United States and China continue to increase tariffs while both suffer the economic consequences — delayed though they may be. Many people don’t seem to realize that the full weight of this trade war may not be felt for months or years.
Negotiations are ongoing, but few are optimistic that any reasonable solution to the trade war will result from these talks. That said, Chinese firms recently purchased a large amount of soybean product — which was seen as a step in the right direction considering the country had already suspended farm-related purchases from the United States.
Even though a few compromises have been made, Senator Coons wants to make sure Trump is placing pressure to prevent IP theft, which is a subject that has gotten in the way of progress.
Vice President Pence told CNBC that the United States suffers at least a $500 million windfall annually because of this kind of theft. Then again, Pence has been known for spouting nonsense before (like throwing out the idea that the United States shouldn’t really worry about our part in the climate change fight when countries like China and India are doing little to nothing — a false “fact” which is actually the exact opposite of the truth).
Pence said, “For too long one administration after another, Republican and Democrat administrations, were willing to accept extraordinary disadvantages to American workers and American jobs in the name of trade with China.”
Coons agreed. He said, “The vice president has it right. This is essentially about China’s mercantilism. The way they have stolen vast amounts of technology. The president is right to make this the center point of the rising and sustained trade conflict.”
It’s one thing to make these talking points, and quite another to provide actual examples. No one’s saying it hasn’t happened or doesn’t happen on a regular basis, but the political powers-that-be need to start providing adequate and specific examples of these thefts before deciding on a plan of action.