Economic Espionage Puts American Households at Risk

Economic Espionage Puts American Households at Risk

( – National Intelligence Director John Ratcliffe has been busy exposing potential threats to the United States’ economic interests. On December 3, he published an opinion piece in the Wall Street Journal saying threats outside the United States could cost the country billions and American households thousands of dollars each year.

According to Ratcliffe, China poses the most significant risk to America, global freedom, and democracy since World War II. Continuing, he explained the communist country’s theft of intellectual property costs America nearly half a trillion dollars a year and as much as $6,000 to each American household.

Ratcliffe cited the example of a 2018 guilty verdict involving a Chinese company that stole technology from an American company. That theft resulted in a loss of about 700 jobs and more than a billion dollars in shareholder value.

He also discussed Chinese efforts to steal sensitive US defense technology, trade secrets from American companies, and malicious theft of emerging technologies.

China Pushes Back

As one might expect, Chinese officials punched back at Ratcliffe’s Wall Street Journal piece. On Friday, Hua Chunying, China’s foreign affairs spokesperson, held a press conference to address his allegations. According to her, the article was nothing more than a collection of “lies” and a “sensational headline.”

Continuing, Chunying warned Chinese-US relations would suffer and the USA would damage its credibility if it continued spreading “fake news” and “political viruses.” However, his threats failed to offer any specifics, just complaints.

Setting aside Chinese rhetoric, America needs to remain vigilant in the face of increased threats from the country. As Ratcliffe concluded, China presents a “once-in-a-generation” challenge for Americans. However, he fully expects the USA to rise up and successfully push back against Sino efforts to dominate the global economy.

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