Apple CEO Tim Cook is one of a large number of tech leaders meeting with Chinese President Xi Jinping during a visit to Seattle. It’s believed that the Chinese head of state is trying to enlist support from U.S. tech companies in his attempt to persuade President Obama not to implement threatened import restrictions against China. Obama had threatened the action over hacking and intellectual property theft by Chinese firms.
A report by the Commission on the Theft of American Intellectual Property earlier this year (via the WSJ) found that intellectual property theft amounted to $300B a year, much of it carried out by hacking systems belonging to U.S. firms.
It’s been suggested that President Xi Jinping wants to emphasise the interdependence between U.S. tech companies and China as both a manufacturing base and a growing market. China is already a larger market for Apple than Europe, and looks set to overtake the USA, with Apple reporting 112% revenue growth in its Q3 earnings call.
Other tech CEOs present include Facebook’s Mark Zuckerberg, IBM’s Ginni Rometty, Intel’s Brian Krzanich, Microsoft’s Satyta Nadella and Qualcomm’s Steven Mollenkopf.
Photo: Pool/Getty Images
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