China Says Foreign Firms Won't Be Forced To Turn Over Technology (vice.com)
An anonymous reader quotes a report from Bloomberg: A top Communist Party official said Friday that China won't force foreign companies to turn over technology secrets to gain market access, signaling attention to a key sticking point with U.S. President Donald Trump as he prepared to leave Beijing. The statement by Chinese Vice Premier Wang Yang, the Communist Party's No. 4 official, was made in an article published in the People's Daily newspaper under his byline. While other Chinese officials have made similar pledges in the past about foreign technology, Wang's statement stands out for the seniority of the person making it and its timing. In his article, Wang also pledged to improve the foreign investment environment and treat all companies equally. China will also increase access to its services and manufacturing sectors, wrote Wang, who was last month promoted to the country's top-decision making body, the Politburo Standing Committee.
Kind of impressive that they had the nerve to try to demand it all outright like that, though, but they'll just keep reverse engineering everything and stealing it like always.
They've already got enough of it and are now developing their own.
No... of course foreign firms won't be forced to turn over technology.
However, they will employ Chinese nationals in China and certain things will "walk out the door" of their own accord. That happens even with companies that have no presence in China t all.
That's not to cast too harsh of light: countries simply act in their own best interests. It is expected and normal. But do not mistake it.
http://money.cnn.com/2012/11/08/technology/security/counterfeit-tech/index.html
ohnoes. yearses.
wtf? looser
Ji says its ok. Communist Party official has his fingers crossed and doesn't has that authority. Surely after 2000 yrs, there are chinese characters for "fingers crossed while lying" and "double crossed", for dealing with foreigners if not everybody generally.
Interestingly, this places Wang Yang in the unenviable position of meteoric rise or cataclysmic fall within the Communist Party.
More interestingly, does this mean the Chinese were won over by Trump, or do they think this concession is a way to play him?
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
Having spent the past 20 years plundering "Western" technology and knowledge, they are far ahead enough in their own labs to leave the "West" in the dust. If anything new comes up of strategic significance, they'll steal it (business as usual). At this point the silly "West" have no more manufacturing of their own* and the politburo can jack the prices (already noticeable in the stores). Now the eco-parasite can suck all the hosts dry at will. "Tank yu missur Crinton, 1995."
* - even shoes and simple things, all MiC, not any country locally. Spades, hoses, roofing, you name it.
It is cold in Washington. The left hate him. The mainstream republicans despise his buffonery. The Tea party hates him for not killing Obama-everything and bringing back slavery.
He dare not show his face in Britain, let alone Western Europe. He is in trouble over Russia and cannot go there.
But those wonderful Chinese finally treat him with the respect he most certainly deserves. They understand just how important a man Trump is. They put on a fine banquet, even applaud his grand daughter. And because they respect him, they have given him the oh so important concession that only a man of Trump's standing could achieve.
As to North Korea, Chinese human rights, Document nine, the South China Sea, .... technical details.
BB explained the loosening of Financial rules to allow foreign financial firms to own > 50% due to PRC desire for foreign investment. Foreign banks will unlikely be a threat to the mega state sponsored banks and PRC wants capital inflows.
IP situation similar. PRC knows they can not continue the over reach and attract investment. PRC prefers investment now vs a practice that was likely to result in backlash on broader trade, so sensible to relax now.
PRC also developing their own IP so have something to protect and counter trade. So positive progress but long over due and skeptical there will be any large in roads now in areas China wants to dominate rather some modest concessions in non strategic areas.
The Chinese already have all that technology obtained by other means.
Yeah, Yeah.