Cyber threats US companies want China and US to work together

Cyber Threats: US Companies Want China And US To Work Together

WASHINGTON – US companies want the US and China to work together to address the growing problem of cyber threats. These attacks, such as ones on the New York Times, Twitter, and other major websites, undermine trade between the world’s two largest economies.

As previously reported by The Inquisitr, the cyber threats have come close to undermining relations between US and Chinese governments.

According to Reuters, John Frisbie, president of the US – China Business Council, reported in a briefing on the trade group’s priorities for this year:

“We would simply say it’s time for the governments to work on it. We do know that companies are constant targets of efforts to get into their systems globally.”

The US – China Business Council represents over 200 US companies with operations in China, from aircraft manufacturer Boeing and construction vehicle giant Caterpillar, to financial services such as Citigroup and JP Morgan Chase.

As previously reported by The Inquisitr, cyber threats have even been considered able to shut down electric companies.

The Chinese government has gone on record as saying it opposes hacking and that they too suffer frequently from cyber threats. According to Yahoo News, Frisbie avoided putting all the blame for the incursions on China, but said failure to address the problem would:

“threaten to undermine a constructive trade relationship. What we’re saying is it is becoming a concern, a serious concern. We’d like to see the two governments try to work on it together and see if it can be addressed regardless of the source and we would encourage them to do so … this year.”

Chinese leaders, after years of exporting to fuel their economy, are realizing they have to shift their business focus to local consumption. This shift aims to satisfy the employment concerns of Chinese workers.

Jan Borgonjon, president of InterChina Consulting, based in Beijing, stated:

“I think there’s increased reason for optimism [about Chinese government reform]. I wouldn’t have said that two years ago because then I was quite pessimistic about the potential for change.”

What do you think? Should the US and China work together to fight cyber threats?