Intellectual Property Rights us and China
The Bush administration's annual trade report to Congress has slammed China for failing to curb the current epidemic of counterfeit goods. James Mendenhall, general counsel, Office of the us Trade Representative, has threatened to file a complaint with the wto if China does not "dramatically reduce" Intellectual Property Rights (ipr) violations. us has warned that it will not hesitate to employ the full range of dispute settlement and other tools available to force China to heel on trade disputes. The us complained that its trade deficit against China has largely resulted from piracy and counterfeiting in China, saying the deficit had increased to us $202 billion last year.
Companies such as Microsoft and Cisco Systems Inc say that they are losing us $250 billion a year and the main culprit is again, China. This figure puts China on the third rung, right behind Vietnam and Ukraine, for the highest piracy rate.
As a reaction, the Chinese government is planning a major overhaul of regulations on iprs, according to a plan outlined by China's National ipr Protection Working Group Office. Under the plan, 17 regulations governing ipr protection will be drafted or revised.
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