News: IP theft - no more worries
Just a brief note - the FBI has more than 1,100 China IP theft cases pending against Chinese entities or individuals. Not a typo - 1,100.
For American companies not doing business in China - we should not say, no exposure to China - the FBI investigations may still be something of a bulwark against theft. Although, one notes, most of the investigations and arrests are in arrears of the crime.
And back nearly a year ago, Mr. Xi promulgated a new IP theft policy which threatened Chinese businesses that steal. The policy was announced within hours of a Xi-Trump meeting last December, and comprised a coordinated efforts across 38 Chinese government agencies with 38 different punishments. The insincerity of this announcement, coming immediately upon the leaders' meeting, was palpable. If you want to believe, you may. I wrote about this at the time in Everything new is old again.
But with a new Chinese government policy, IP theft in China is no more.