International theft of U.S. intellectual property costs $300 billion per year: report

China in the past has defended its record and in turn accused the United States of unfair trading practices, such as denial of sensitive technologies and several high-profile rejections of Chinese investment bids.

Speaking earlier Wednesday at the Center for Strategic and International Studies, Chinese Ambassador to Washington Cui Tiankai said: “We should never politicize the economic issues because they will only make things more difficult to resolve.”

Huntsman said he expected that Chinese officials would reject the report but voiced hope that it could provide ammunition for Chinese who support reform.

“They know that in order to reach out to the world, as many of the state-owned enterprises want to do, they are going to have to look and feel more like companies with global standards,” Huntsman said.

Representative Mike Rogers, a Republican who heads the House committee on intelligence, welcomed the report and said it showed the need for Congress to approve a law to let the government and companies share Internet information.

President Barack Obama’s administration and civil liberties advocates oppose the law due to privacy concerns.

While the report listed China as by far the largest culprit in intellectual property theft, commission member Slade Gorton, a former US senator, said that Russia, India and Venezuela were the next largest violators.

Article Appeared @http://www.rawstory.com/rs/2013/05/22/international-theft-of-u-s-intellectual-property-cost-300-billion-per-year-report/

 

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