Nov 10 2014

President Obama Talks Cybertheft at APEC Summit

Cybertheft was among the topics President Barack Obama highlighted during a speech Monday at the Asia-Pacific Economic Corporation CEO Summit in Beijing. Here's an excerpt from his speech:

We look to China to create a more level playing field on which foreign companies are treated fairly so that they can compete fairly with Chinese companies; a playing field where competition policy promotes the welfare of consumers and doesn’t benefit just one set of companies over another. We look to China to become an innovative economy that values the protection of intellectual property rights, and rejects cybertheft of trade secrets for commercial gain.We look to China to approve biotechnology advances that are critical to feeding a growing planet on the same timeline as other countries, to move definitively toward a more market-determined exchange rate, and, yes, to stand up for human rights and freedom of the press. And we don’t suggest these things because they’re good for us; we suggest that China do these things for the sake of sustainable growth in China, and the stability of the Asia-Pacific region. And I look forward to discussing these issues, along with China’s concerns and ideas, with President Xi over the next few days.