HUFF POST: Treasury Secretary Timothy Geithner said on Thursday that China is holding to its decades-old strategy to steal American intellectual property, in a pointed statement reflecting U.S. officials’ growing impatience with Beijing.
“They China have made possible systematic stealing of intellectual property of American companies and have not been very aggressive to put in place the basic protections for property rights that every serious economy needs over time,” Geithner told a forum in Washington.
“We’re seeing China continue to be very, very aggressive in a strategy they started several decades ago, which goes like this: you want to sell to our country, we want you to come produce here … if you want to come produce here, you need to transfer your technology to us,” Geithner said… (more)
People in the U.S. are so naive when it comes business competition. The company I work for signs “non disclosure agreements” and then doles out all sorts of information that costs us a fortune to develop. The agreements are impossible to enforce and sometimes are illegal.
Business people need to learn that information is wealth that needs to be aggressively protected.