Follow us on:   

Obama, Xi agree to end economic espionage
September 25, 2015, 10:23 pm

Obama and Xi, sometimes sparring partners, agreed to work together to end cyber crimes and espionage during a press conference at the White House [Xinhua]

Obama and Xi, sometimes sparring partners, agreed to work together to end cyber crimes and espionage during a press conference at the White House [Xinhua]

Economic rivals and trading partners China and the US signed an agreement to end commercial espionage, hacking and intellectual property theft Thursday.

The joint initiative was signed during a press conference for Chinese President Xi Jinping and US President Barack Obama at the White House.

“China and the United States are two major cyber countries and we should strengthen dialogue and cooperation,” Xi said.

He stressed that confrontation and friction would not be conducive to the Chinese-US cooperation and said Beijing was looking for a win-win platform with Washington.

The US has previously accused Chinese companies and the military of conducting cyber espionage on US industries – a charge Beijing officials have vehemently denied.

“I raised, once again, our rising concerns about growing cyber threats to American companies and American citizens,” Obama said with Xi by his side.

“I indicated that it has to stop [and] we have agreed that neither the US or the Chinese government will conduct or knowingly support cyber-enabled theft of intellectual property, including trade secrets or other confidential business information for commercial advantage,” he added.

The two leaders also discussed the issue of climate change and measures they are both taking to lower carbon emissions.

Obama said that both China and the US are putting forward a “common vision” for “ambitious” climate change agreements to be discussed in Paris later this year.

“When the world’s two largest economies, energy consumers and carbon emitters come together like this, then there’s no reason for other countries – whether the developed or developing – to not do so as well,” Obama said.

Obama also praised Xi for China’s $3.1 billion commitment to help poor countries combat climate change; the amount matches an earlier US pledge.

For his part, Xi said that the two great economic powers had agreed to cooperate in the face of global challenges.

“We will work with the US to expand consensus, reduces differences, learn from each other and progress together,” Xi said.

Earlier in a written interview to The Wall Street Journal, Xi said it is natural for China and the US to have some differences, even family members don’t always see eye to eye with each other.

“Our two countries should understand and respect each other, expand common ground and properly handle differences, and respect and accommodate each other’s core interests and major concerns,” Xi said.

China and the United States account for one third of the world economy, one fourth of the global population, and one fifth of global trade.

“If two big countries like ours do not cooperate with each other, just imagine what will happen to the world,” Xi said, adding that both history and reality show that China and the United States stand to gain from cooperation and lose from confrontation.

Xi arrived in the US on September 23 and has met with business and community leaders. He will be addressing the United Nations General Assembly on September 28.

He will be attending a state dinner in his honor at the White House on Friday evening.

The BRICS Post with inputs from Agencies

One Response to Obama, Xi agree to end economic espionage

  1. ipman7 Reply

    September 27, 2015 at 3:09 pm

    America seems to be taking a different route. If you can’t beat them, try to align yourself with them. Looks like America have fully acknowledge that China is more advanced and better structured than America. America needs China for there products and trade. The West have try everything in there power to destabilize and down play China’s constant growth but have failed miserable and have now decide to cooperate with China.

Leave a Reply

Your email address will not be published. Required fields are marked *

Anti-Spam * Time limit is exhausted. Please reload the CAPTCHA.