(HorizonPost.com) – In tandem with the novel coronavirus that apparently started in the Chinese city of Wuhan, the People’s Republic of China has become more aggressive in its attempt to establish itself as a dominant economic world power. Recognizing the problem, Representative Ken Buck (R-CO) reintroduced a bill that would create sanctions against countries that steal the intellectual property (IP) of the United States.
Republican Lawmaker Introduces Bill to Fight IP Theft by China’s Communist Regime https://t.co/tlfmZTbhe8 via EpochTimesUSNews pic.twitter.com/PcRmkOpf8C
— Israel News Links (@IsraelNewsLinks) May 5, 2021
On April 16, the Republican Policy Committee (RPC) issued a policy paper warning of the efforts by the Communist country to dominate the military and the sociopolitical spheres of the world. Based on a 2017 report, their research says that “Chinese IP theft costs the United States as much as $600 billion per year.”
The threat is real, as can be seen in the conviction of an Ohio woman for selling medical trade secrets. It can also be seen through indictments in Texas alleging that some companies and individuals were transferring information regarding oil exploration and production. Fortunately, for now at least, President Joe Biden seems intent on maintaining the pressure on China initiated by his predecessor, Donald Trump.
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