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Per Kudlow, the presidential economic advisor, theft of IP by China is actually increasing and they refuse to act on it. This is now considered critical not only by the US, but our allies. On any joint venture you have to lay out all your technology to communist party officials and there has been zero progress by Xi. This is as of this morning. Our tariffs average 2.5% and theirs average 14%. This doesn't even cover massive regulatory barriers. We have proposed removing tariffs on both sides to absolutely no avail. The Chinese are absolutely committed to continuing their bad behavior as evidenced by the very, very recent Micron and Apple actions in IP theft and attempted theft and blatant court rulings not only condoning theft, but reinforcing it. Free, fair trade with no tariffs or regulatory barriers would benefit all, even the Chinese, since they are developing more and more IP on their own. It has been interesting to hear an inside view of negotiations from somebody that is actually there first person. Kudlow stated Xi has absolutely no intention to reform and progress has been absolutely zero. When considering the multiplier effect of IP theft, this adds up to trillions in the hit to the US economy.
This is very obviously throwing down the gauntlet, letting the Chinese know its game on and the we will no longer tolerate bad behavior. This was the intended purpose of having the presidential economic advisor doing this at the Seeking Alpha conference attended by many of the world's heavy weight financial minds. He also stated the WTO and world trading system is "Broken".
Larry Kudlow is a TV-pundit who has been wrong in his predictions since the 90's..
The most charitable thing to say about him is that he studied for a master’s degree at Princeton University but did not earn one.. so at least he has at a point of his life been in the vicinity of knowledge.
Google him if you want a good laugh, top minds this U.S. administration, top fucking minds.
Larry Kudlow is a TV-pundit who has been wrong in his predictions since the 90's..
The most charitable thing to say about him is that he studied for a master’s degree at Princeton University but did not earn one.. so at least he has at a point of his life been in the vicinity of knowledge.
Google him if you want a good laugh, top minds this U.S. administration, top fucking minds.
Love him or hate him, he is there and is truthful(if he wasn't, he would have been exposed long ago) and you aren't in that circle and never will be. If you have followed Xi at all, this is in character. Have you even followed the Belt and Road initiative <msreadoutspan class="msreadout-line-highlight msreadout-inactive-highlight">and the financing behind it? Do <msreadoutspan class="msreadout-word-highlight msreadout-inactive-highlight">you</msreadoutspan> know anyone first person that does business in China, let alone own a factory there, I do.
Do you know any prominent scientist(two PHDs, professor on top that have had their teams major work for a top tech company stolen by the Chinese, I do and listened to the story at his house, I know him personally and trade information with him that he has acted on. This was heavily covered in the press at the time. The biggest advantage the US has is FREEDOM, if you criticized Xi as a Chinese citizen like you criticize the current administration, that you have a right to do, you would be in a world of hurt. The Apple and Micron cases and current and undisputed. Venom and hatred are not communication or discourse. Please give me some specific facts on specific handling of US IP to back up your arguments. I would appreciate examples of China defending US or European IP on a regular basis.
The Chinese will become an IP power house shortly and would benefit from a world wide solid IP system and should want to play a part in setting up a fair, transparent, efficient system to benefit themselves and the rest of the world. Being master traders, they would benefit more than most as would the US.
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A longer version >> on December 7, 2007, he said: "There's no recession coming. The pessimistas were wrong. It’s not going to happen. . . . The Bush boom is alive and well. It’s finishing up it sixth consecutive year with more to come."
Or on January 16, 2008, when he declared: "anks are taking significant steps to repair their balance sheets. Even though some people might not be happy with the speed, the reality is things are improving."
Or when he predicted, on February 5, 2008: "I’m going to bet that the economy will be rebounding sometime this summer, if not sooner. We are in a slow patch. That's all. It's nothing to get up in arms about."
The Chinese will become an IP power house shortly and would benefit from a world wide solid IP system and should want to play a part in setting up a fair, transparent, efficient system to benefit themselves and the rest of the world.
This at least is correct, China will push past most of the world as a place of innovation, but it is a marathon not a sprint, and Chinese courts are increasingly getting a better reputation for handling IP cases.
I can hardly blame the Chinese for not just falling in line behind the US system, it is broken and overdue for repair, south Koreans are suing each other in east Texas because they basically just write blanket checks to the plaintiff.
How on earth is that fair or transparent, the IP system is a broken shackle around world innovation, used by multi billion dollar companies and patent trolls to extort startups and prevent competition, its a stiffling mess and I am happy to see at least one country attempt to tackle the problem.
I have never said the current system is fair or honest, read my numerous posts on the subject, the system needs major reform and I have been advocating for it. Everyone has had predictions that failed, I have many and the only ones who haven't made wrong predictions have made very few and or have very limited vision. Even Warren Buffet made a few huge blunders that he has talked about. Politicians by their nature make promises, predictions and ALL LIE, saint Obama included. The difference between a used car salesman and a politician/software salesman is he knows when he's lying. Saying a politician lies is a given. Lying and deception are part of human nature, white lies are can sometimes even be noble under some circumstances. Sometimes the lies are from ignorance or misinformation. "The most dangerous person you will ever meet, is a person that can deceive you" is one of my favorite sayings.
I also have several mid six figure investments in this area, so this is not just casual or off the top of my head talk. Research in financial and technical areas for investing is what I do for a living and I have done well. I have personally had problems with so called Chinese ethics involving mid six figure investments, when some in the same deal I dealt with had eight figure investments. What have been your dealings with China or research on the subject, please let me know.
How on earth is that fair or transparent, the IP system is a broken shackle around world innovation, used by multi billion dollar companies and patent trolls to extort startups and prevent competition, its a stiffling mess and I am happy to see at least one country attempt to tackle the problem.
Gaurdsmanbob, Do you consider Micron and others patent trolls, could you name the specific companies you consider patent trolls?
Why do you think China forces foreign companies to operate in China through JV with chinese entities? To "have access to IP".
China has no regards for foreign IP and trademarks. They pretend they care, but they actually want their chinese enterprises to "acquire" tecnology as fast as possible.
Don't mess with Kudlow, guy had a six-figures-a-month cocaine habit during his hedge fund days.
What about the notion that China could actually be sabotaging itself by cheating and taking shortcuts to the 21st century?
People who cheat on tests are, by definition, stupid. No one gains expertise by the virtue of a good grade alone, it's the hard work beforehand that matters.
Peers of mine are using a "new" Chinese foundry process for a product design, and their PDK is a terrrrible joke. Simulation bugs, model bugs, CAD bugs, and not a simple competent AE on their "customer service team". We're right to be paranoid, but there's something very farcical about it all.
Kudlow did have a serious drug problem and talks about it openly and on screen. He admits his decent into hell and his reform with the help of many. That's better than severely deranged people of power out there that are able to deceive most. A person that can deceive you is the most dangerous of all by very definition. I'd rather people I deal with be off the cuff and impulsive than deceivers any day of the week. Many of our current and ex politicians were/are masters of deception and fooled many.
