A step in the right direction or move to distract the Americans from yuan valuation and the South China Sea flashpoints? With Sino-US trade rising 17 percent thus far in 2011 to $363.1 billion, commerce is defined by Vice Premier Wang Qishan as an “important cornerstone in the China-U.S. relationship.”
So amidst the China-bashing of late as Obama toured to re-assert American pre-eminence in the Asia-pacific, China pledges to abide by international intellectual property rules. Quick Background: Understanding Chinese Attitudes Towards Intellectual Property (IP) Rights (CIO 2006).
This is a move the US expects of responsible international stakeholders - “With that extraordinary growth that China has enjoyed over the last decade comes a responsibility, particularly as it relates to trade and investment,” U.S. Trade Representative Ronald Kirk.
So, is China listening and participating or biding its time on something else?
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U.S.-China Trade Talks End With Promise to Protect Intellectual Property
Source – Bloomberg, published November 22, 2011
China pledged to improve its monitoring of intellectual property rights in trade talks with the U.S., as American officials called on the world’s second biggest economy to abide by international rules.
Chinese Vice Premier Wang Qishan’s promise to create and lead an office focused on protecting intellectual property rights was a “step in the right direction,” U.S. Secretary of Commerce John Bryson said in an interview yesterday with Bloomberg Television after the 22nd U.S.-China Joint Commission on Commerce and Trade meeting in Chengdu.
“There’s no question that intellectual property rights have not been respected for the most part here in China,” Bryson said. “We think this is a step in the right direction but there is a long ways to go in having intellectual property rights consistently and broadly recognized in China.” Read the rest of this entry »