It doesn’t come as a surprise that cyber attacks against the United States often originate in China. But a top U.S. official recently got attention for alleging that this online activity is yielding fewer foreign investors interested in China as a place to put their resources – out of fear of losing intellectual property.
The claim comes from Robert Hormats, the U.S. under-secretary of state for economic growth, energy and the environment. He also says the attacks are losing China its credibility among American investors and top government officials.
"The cyber intrusions are particularly troubling because they've gotten so much visibility lately that the intensified visibility is really undermining a lot of business confidence of people who would otherwise invest here," Hormats said in a statement quoted by Reuters. "So it's hurt Chinese interests."
“The Chinese really need to take a look at this and decide if it's in their interest for these policies to continue," he added.
China has generally denied its involvement in these cyber attacks.
But a workable solution will require the efforts of both nations. "As the world's two largest economies, both dependent on the Internet, China and the U.S. must work together to address this problem, on behalf of our own citizens, our own companies, and our own institutions," U.S. Ambassador Gary Locke said in a statement reported by Reuters (News - Alert).
In addition, U.S. Rep Mike Rogers (R-Mich.) said before the House Intelligence Committee, which he chairs, that China’s economic cyber espionage against U.S. companies “has not diminished” since last year, but “has grown exponentially both in terms of its volume and the damage it is doing to our nation’s economic future.”
“The Chinese intelligence services that conduct these attacks have little to fear because we have no practical deterrents,” he added in a statement carried by TMCnet.
In addition, the State Department's coordinator for Cyber Issues, Christopher Painter, claims that President Barack Obama and other U.S. officials have "raised their concerns" with Chinese officials about Chinese government attacks on business and strategic targets in the United States.
The security firm, Mandiant, claims the Chinese People's Liberation Army has been responsible for cyber assaults on U.S. targets since 2006.