FBI, MI5 Name Chinese Government as Top Threat to Business

While traveling to London to meet with his British counterpart, the head of the FBI warned Western business leaders that their companies could be impacted by crime from Beijing.

During a joint press conference attended by executives in various financial sectors, MI5 Director General Ken McCallum cautioned that China presented the most significant threat.
“By volume, most of what is at risk from Chinese Communist Party aggression is not, so to speak, my stuff. It’s yours. The world-leading expertise, technology, research, and commercial advantage developed and held by people in this room, and others like you,” he said.

FBI Director Christopher Wray also claimed that China seeks to steal “innovation” from Western firms. “We’ve seen the regional bureaus of China’s MSS—their Ministry of State Security—key in specifically on the innovation of certain Western companies it wants to ransack.” He added, “I’m talking about companies everywhere from big cities to small towns—from Fortune 100s to start-ups, folks that focus on everything from aviation, to AI, to pharma.”

Wray pushed corporate leaders to work with the FBI and MI5, insisting “We’re not just in the business of articulating problems, we’re doing something about them, together with MI5, with the private sector itself, with other government partners.” He also warned that China is insulating its economy from potential western sanctions that would come if Beijing ordered the military takeover of Taiwan.

? Source: Libertarian Institute

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