Timothy Geithner:The United States’ trade deficit with China hit a record $273 billion in 2010 ….

In 20011,  Via Reuters, Tim Geithner summarized the effect of stolen technology on the US economy. China has been very aggressive in copying technology. If US made products were to be sold in China, they would have to be produced there.

Here is a direct quote from Tim Geithner :

“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.

The United States’ trade deficit with China hit a record $273 billion in 2010. This is old news. The latest numbers are worse. Had $273 billion had been pumped into the economy, for 300 million US residents in 20011 , what do you think your life would look like? What kind of stimulus check would that be?

Who can help?

Everyone can help by buying Made in America products.

Our blogs are a microcosm and a parallel universe, where our work, a product of years of study and hard work , is being openly and blatantly stolen.

Here are some questions that I have posed to my students, colleagues and friends.

What technology has not been stolen by the Chinese?

Why?

From Harry Potter to the latest self driving models, everything is at a risk of being copied.

How can this be prevented?

It can be prevented by buying Made in USA products.( Aren’t Facebook, Google and Twitter  homegrown?)

Everyone can help by buying Made in America products.

According to Matthew Aid, Humint spying is causing inventors to lose money. How about not selling to China? Not admitting the students? Being more stringent in English standards. The poor language may be OK for them , but the loss caused by them is so high that they make other countries look like friends.

Here is a DIRECT QUOTE FROM MATTHEW AID:

This approach to espionage is nothing new. Other nations have used similar systems for centuries. What is unusual is the scale of the Chinese effort, and that makes a difference. Supporting it all is a Chinese intelligence bureaucracy back home that is huge, with nearly 100,000 people working just to keep track of the many Chinese overseas and what they could, or should, be trying to grab for the motherland. This is where many of the graduates of the National Intelligence College program will work.  “

 

The first time that I read this, I thought that it was a paranoid approach. Now I see first hand how blatant the IP theft is.

If each year, had Hundreds of Billions of dollars were not lost to China, do you think we would have faced the foreclosure crises? Would we have faced joblessness?

Everyone can help by buying Made in America products.

References:

http://www.huffingtonpost.com/…/timothy-geithner-china..

http://www.ipcommission.org/report/ip_commission_report_052213.pdf

 

 

 

 

 

 

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2 thoughts on “Timothy Geithner:The United States’ trade deficit with China hit a record $273 billion in 2010 ….

  1. Very good, insightful (albeit disturbing) article. I’ve shared it on FB so hopefully others will read . . . but not ‘read and weep;’ rather my hope is that they read, re-prioritize and reform!

    Like

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