Boeing signed an agreement with Commercial Aircraft Corporation of China Ltd. to build an aircraft completion center in China for Boeing 737s.
All corporations in China are owned by the Chinese Communist government.
Boeing said China will buy 300 Boeing aircraft for $38 billion and build the first aircraft completion plant in that country. Earlier, Inspur, a Chinese cloud computing and data-center company, said it will team with Cisco Systems to sell networking technologies and products in China.
Any deal with China requires the company to share all their technology with them. China has a so-called CCC safety requirement which includes a process requiring the foreign manufacturer to give Chinese officials full access to engineering drawings and schematics and to provide a complete finished product for evaluation.
The U.S. Government wouldn’t let Boeing build the 787 in Tennessee but they will let Boeing and Cisco go to China.
Soon China will be making the planes. At least it spares them stealing our technology.
Let’s not forget that the Chinese use slave labor and their pollution standards are horrendous.
— Boeing Airplanes (@BoeingAirplanes) September 22, 2015
They not only steal our intellectual property when we are not giving it to them, but they violate trade agreements, which are often not in our favor.
Larry Kudlow described three common free trade violations in 2011: – A Chinese requirement for joint ventures with the U.S. — where China gets 51 percent, and our companies only 49 percent — looks like another attempt to snake our technology. Chinese local-content prescriptions prevent our firms from doing business with China’s state and local governments. The China curb on rare-earth materials, important both for U.S. technology and defense security, is yet another free-trade violation.
Kudlow doesn’t believe trade barriers work because they limit access to reasonably priced Chinese goods that our consumers and businesses need.
And as Hillary said, China is “hacking everything that doesn’t move.” These are the people Boeing and Cisco are going to give trade secrets to.
Jack Lew told Norah O’Donnell on CBS This Morning that China is stealing our trade secrets from us. There will be no sanctions, just business as usual.