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February 24, 2006

China: awareness of IPR for competition with India

In a recent interview by a Chinese newspaper Economic Oberver, James Gradoville, the vice chairman of The American Chamber of Commerce in PRC, talked about the Intellectual Property Right in China, which he said has brought damages to many memebers of the Chamber. James said Chinese government should play an active role to resolve this problem.

Not long after that, on Feb. 23, China Vice Premier Wu Yi "vowed to intensify her fight against illegally copied goods -- not to fend off complaints from Washington but to spur her own country's ambitions to become a technological power," according to a report by Reuters.

Reuters also said a report issued this month by the United States Trade Representative Rob Portman that promised concerted action."IPR protection is one of China's greatest shortcomings," said the report. "The volume of counterfeit goods from China seized at the U.S. border continues to rise."

This IPR issue, among many others related to China's crippled legal system, has become a critical issue for American companies doing business in China, esp. at a time when India boasts its more completed and westernized legal framework to attract FDI (Foreign Direct Investment).

According to a Financial Times report on Feb. 22, India could achieve sustained economic growth rates of up to 10 per cent – at which it would keep step with China – if the government quickened the pace of reform, as predicted by the International Monetary Fund in Feb.21 released a report.

Posted February 24, 2006 08:03 PM

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