Timothy Geithner: China 'Very, Very Aggressive' In Stealing U.S. Technology

[ProfessionalLeftist]

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.

Although unusually direct, Geithner's comments echo a common refrain from U.S. officials and executives. The new U.S. Ambassador to China, Gary Locke, who has assailed China in the past for its trade practices, has put the defense of U.S. intellectual property among his chief priorities.

MORE . . .

http://www.huffingtonpost.com/2011/09/23/timothy-geithner-china-very-aggressive-stealing-technology_n_977509.html

RELATED POST:

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x1992656

[aquart]

1. Not hard when we build our factories there.

[OhioChick]

6. Exactly n/t

[jtrockville]

10. Yep. Is it really stealing when it was freely given?

[qb]

2. What's the problem? China has just taken deregulation to a whole new level.

:sarcasm:

[midnight]

3. China has lots of NAFTA help... America should not be so helpful in this aggression.

America needs to tell G.E. to hire from home... Pay taxes at home... Let's get aggressive with these companies that reward China's agressivness....

[Mimosa]

5. +1

Midnight, we do need policies to bring work back to USA or else punish G.E., Apple and other corporations which profit from dirt cheap slave labor!

[Cali_Democrat]

4. They're stealing intellectual property of American companies?

These same rat bastards that barely pay any taxes, export our jobs overseas and push for deregulation?

What goes around...

[DJ13]

7. you want to sell to our country, we want you to come produce here

How is that legal under the WTO treaty that China signed?

And if China can use that strategy to drive their growth without consequences, why cant we?

[JHB]

8. Thanks for noticing, Tim. Sure you don't need more time to study it?

So what's the strategy to counter it? Can we get something a little stronger than harsh language?

[choice11]

9. Don't Not Get Angry With China Please, It's Underground common Sense

Ya right !!

"We're seeing Great China persist to be very aggressive in a strategy they started several numerous years ago, which goes as follows: ''you want to sell to our country ? we want you to come produce here ... if you want to come produce here, you need to bring over your resources to us,

Open heart in business. China might not be respected but they are wise. They are far gone now it is just too late i guess ! , most of the great gurus come from america though and they are doing amazing with their online marketing businesses and stuff. Even, recently, one of the American guru just release a work at home strategy and the name was so close to the name of this forum actually, our forum here is call democratic underground and he name it commission-underground http://www.commissionunderground.webstarts.com ...what a co-incidence ?

Anyways, i will suggest will let china be. Let them alone . As far as i am concern china has gone viral. hundreds & thousands if not millions of chinese resides around the world now . They often dominate the country where they lives in. I call them the Dominator. Nobody knows that chinese are brave and smart until they took the whole world by storm.

American produce successful gurus, china produce dominators :)

[InkAddict]

11. Oh please, Timmy, stop pretending to have our backs; when the

time is right (like every other day of the last upteen years), you'd sell your own mom out the back door if you can't push her out the front door. For everything else, there's...TBTF derivatives.