The Financial Times reports that the US is preparing sanctions against Chinese companies stealing intellectual property
The Obama administration has for months been preparing a raft of sanctions to respond to mounting commercial espionage from China. Three US officials said the sanctions would probably be unveiled next week, just weeks before Chinese President Xi Jinping makes his first state visit to America.
Every major power steals intellectual property. The NSA has probably paid for its budget 20 times over stealing corporate secrets. But the most-powerful weapon the US has is the global financial system and any companies caught in these sanctions will be obliterated.
Chinese President Xi Jinping visits the US in September.
