Thursday, July 29, 2010

U.S. Business Group Cries Foul over China Technology Push

(Industry Week – Agence France-Presse)

Calls China’s plan a ‘blueprint for technology theft’

China’s drive to develop homegrown technology was “anti-foreign and regressive” and would continue to fuel trade disputes with Washington, the U.S. Chamber of Commerce said on July 28. The report said China was abusing the allure of its vast market to push foreign companies to transfer their latest technologies to Chinese competitors. This was a “blueprint for technology theft on a scale the world has never seen before,” it said.

The report is the latest in a growing chorus of complaints by foreign businesses and governments over perceived unfair policies and market restrictions in the world’s third-largest economy.

“Indigenous innovation is a massive and complicated plan to turn the Chinese economy into a technology powerhouse by 2020 and a global leader by 2050,” said the U.S. Chamber of Commerce, one of the biggest business groups in the world. “What is worrisome for the business community is that these indigenous innovation industrial policies are headed towards triggering contentious trade disputes and inflamed political rhetoric on both sides.” Read more here.