Chinese tech to be devastated by Cold War 2.0

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Via Bloomie:

A Chinese state-owned company was charged with conspiring to steal trade secrets of U.S. chipmaker Micron Technology Inc. as the Justice Department steps up actions against China in cases of suspected economic espionage.

Fujian Jinhua Integrated Circuit Co. and Taiwan’s United Microelectronics Corp. were indicted in California along with three individuals, the Justice Department said Thursday. The U.S. also sued to stop the companies from exporting to America any products that were created using the trade secrets.

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About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.