September saw a historic agreement between the US and China
prohibiting cyber espionage for economic gain — stealing trade secrets and
intellectual property. But how will it work out in
practice?
In the worst-case scenario, China will pay lip service to
the agreement while turning a blind eye to, or continuing to sponsor, attempts
to steal US IP, says Kevin Mandia, president of leading
network security firm FireEye. However, he believes it's more likely that China
will scale back its participation in cyber spying attacks on US companies, and
may even put a stop to it entirely — especially since the US is likely to
start fining Chinese companies for it.
In the end, Mandia predicts, the US and
China will team up to battle cyber crime for the sake of a stronger global
economy. And that makes the agreement better than no agreement.
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