By James Van de Velde:
According to the 2017 Report of the Commission on the Theft of American Intellectual Property, the annual cost to the U.S. economy from intellectual property theft exceeds $225 billion and could be as high as $600 billion. In 2015, the Office of the Director of National Intelligence estimated that economic espionage through hacking costs Americans $400 billion per year. The Chinese government is estimated to be responsible for 50 to 80 percent of cross-border intellectual property theft worldwide[1] and a 2013 Verizon report claimed China is responsible for 90 percent of cyber-enabled economic espionage in the United States.[2] The profit China derives from stolen commercial secrets is so great that it likely accounts for a large portion of China’s often-touted miraculous economic growth.
Read more: American Thinker
