Transfer Pricing Associates

US and China Hold Talks Regarding IP & Cyber Security

post Friday June 14, 2013

global business
Newly minted Chinese President Xi Jinping recently traveled to the United States to meet with President Barack Obama. The two political leaders gathered in California to discuss a variety of issues and work to establish a strong diplomatic relationship. A wide range of foreign policy issues were addressed during their summit, but one issue of considerable importance that President Obama came prepared to talk about is the rising theft of American intellectual property and the connection to Chinese individuals and companies.
President Obama brought a large amount of detailed evidence about cyber security and intellectual property to bring to the attention of President Xi Jinping. It is clear that cyber security is a key component of a healthy and functional relationship between the world’s top two economies. President Obama directly explained the importance of cyber security and intellectual property, saying, “if it’s not addressed, if it continues to be this direct theft of United States property, that this was going to be very difficult problem in the economic relationship and was going to be an inhibitor to the relationship really reaching its full potential.”
It appears that both sides were able to come to agree on some broad policy implications and decisions, and that neither the Chinese nor the Americans want intellectual property to be an issue that derails the potential for a productive diplomatic relationship.

Regardless of potential progress or policy decisions, the summit makes it abundantly clear that intellectual property and cyber security are key issues for the two leading economies. The budding relationship between the two heads of state will prove to be extremely influential on a variety of policy issues and could shape the future of intellectual property protection and how both countries handle various IP threats and trespasses.

Source: RYOT
Image source: freedigitalphotos

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