As long as the United States remains unwilling to fight fire with fire on some fronts, especially cyber warfare, expect things to get much worse — such as one day shutting down banks and grinding the economy to a halt.
China’s state-sanctioned cybercrime is a global “menace” according to Eric Schmidt, Google’s executive chairman, as he predicts a revolution in the country in the coming decades in his latest book.
“The disparity between American and Chinese firms and their tactics will put both the government and the companies of the United States at a distinct disadvantage,” because “the United States will not take the same path of digital corporate espionage, as its laws are much stricter (and better enforced) and because illicit competition violate the American sense of fair play,” the book claims.
Mr Schmidt and Mr Cohen come close to suggesting that western governments imitate China so they are not disadvantaged by its activities. They also say that the spread of Chinese technology around the world increases the influence of the Chinese government.
“Where Huawei gains market share, the influence and reach of China grow as well,” Mr Schmidt says.
Full article: China the world’s ‘most sophisticated’ hacker, says Google’s Eric Schmidt (The Telegraph)