US-China Cyber Espionage Agreement
http://www.bbc.com/news/world-asia-china-34360934
Xi Jingping and Barack Obama have agreed to "take new steps to address cybercrime." While we're not at the point where anything concrete has been laid down, this is a positive step as China is finally willing to recognize that there is trade espionage going on. What surprises me is that the agreement would not cover more traditional national security-related cyber espionage, which you'd think the Chinese would be more willing to talk about as they have less plausible deniability than with espionage where the Chinese act on behalf of Chinese tech firms when stealing from American companies.
Let's hope the Chinese are willing to engage frankly on this matter.
Obama was pretty direct regarding what would happen if China didn't change its ways.
Mr Obama said any escalation in China's alleged cybercrimes against the US would prompt sanctions."It has to stop," he said. "The question is now, are words followed by action?"
Reflecting on the use of sanctions against either individuals, businesses or state-run companies, he said: "We will apply those, and whatever other tools we have in our tool kit, to go after cybercriminals either retrospectively or prospectively."