FBI chief slams Chinese cyberattacks on U.S., calls it ‘one of the largest transfers of wealth in human history’

WASHINGTON — In blistering remarks Tuesday, FBI Director Christopher Wray slammed the Chinese government for its use of espionage and cyberattacks against the United States which has amounted to what he called “one of the largest transfers of wealth in human history.”

“The stakes could not be higher, and the potential economic harm to American businesses and the economy as a whole almost defies calculation,” Wray said of the Chinese government during an address at the Hudson Institute. 

“To achieve its goals and surpass America, China recognizes it needs to make leaps in cutting edge technology, but the sad fact is that instead of engaging in the hard slog of innovation, China often steals American intellectual property and then uses it to compete against the very American companies it victimizes, in effect, cheating twice,” he said, adding that the Chinese government targets “research on everything from military equipment to wind turbines.”

When asked if the United States had an estimate on the financial damage the Chinese government has caused on the American economy, Wray said he didn’t know of an exact number, but added that “every figure I’ve seen is breathtaking.”

“Confronting this threat effectively does not mean we shouldn’t do business with the Chinese, does not mean we shouldn’t host Chinese visitors, it does not mean we shouldn’t welcome Chinese students or coexist with China on the world stage,” Wray explained. “It does mean that when China violates our criminal laws and international norms, we are not going to tolerate, much less enable.”

Wray’s comments come on the heels of Secretary of State Mike Pompeo’s threat to ban TikTok as well as other Chinese social media apps citing national security concerns. The nation’s top diplomat explained in a Monday interview with Fox News that the Trump administration will examine the infrastructure of Chinese social media apps as it did with Chinese telecommunication giants Huawei and ZTE.

Article source: https://www.cnbc.com/2020/07/07/fbi-chief-slams-chinese-cyberattacks-against-us-hudson-institute.html