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It's been a long time since America was unconquerable. With the rapid decline of manufacturing, the inability to enter new markets, and a lack of innovation, U.S. industry has been in decline for decades. It's this decline that is largely responsible for the vast innovation going on around the world right now — or at least it would have been if not for China and Russia ruining everything by hacking into our secrets and stealing our trade secrets on a massive scale. Perhaps the best person to describe this problem is John Chambers, the former CEO of Cisco. "I don't think people realize how much damage is being done," Chambers said in an interview with Charlie Rose. "We're letting billions of dollars leak out every year, every corporation, every industry." Chambers was referring to intellectual property loss through cyberspying and cyberespionage. Our "vulnerability" to China isn't just about spying one another's communications or misappropriating military plans; it's about the theft of our innovative capacity. The Chinese are systematically undermining U.S. competitiveness by stealing our intellectual property — all for cheap manufacturing rates and cheap labor costs in their own country. And it's not just the Chinese. Russia has added to the problem by engaging in industrial espionage on a massive scale. By 2013, Russian spies had infiltrated hundreds of U.S. organizations , resulting in the loss of intellectual property of US$300 billion. The Obama administration responded by launching the National Cybersecurity Initiative, which seeks to make better security software available to corporations and government agencies around the world, thus making our intellectual property more secure online where it belongs. So what are China and Russia doing? They're stealing our best ideas and then applying them in their own industries while we're attempting to undercut them on their home turf with cheaper products that are inferior in functionality. It's the old problem of foreign policy. Corporate FDI has traditionally been in high dollar, low volume areas. But it's time for this model to change. If China is stealing our innovations in the semiconductor industry, then that needs to be taken into account. And it can be taken into account by looking at semiconductors not as a commodity market but as an end-use market where companies are looking for specific solutions to specific problems in specific applications. The Chinese and Russian governments have both realized that they need to target the semiconductor market as a high growth industry if they want to grow their economies and meet domestic demand for electronics, including new cars and appliances with embedded computers. And they're combining semiconductors with nanomaterials to get the innovation they need. In contrast, the United States is sending its top research talent to universities around the world where they'll be far less of a threat for corporate espionage and industrial espionage. But there's a better way of going about this. American companies need to get their own house in order and go back to basics on a global scale, instead of building products for emerging markets, which are already being built in China and Russia. If this happens, all American companies will be part of the same innovation network that is looking for new solutions in specific markets. cfa1e77820
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