China could soon win control of the World Intellectual Property Organization (WIPO), an influential United Nations specialized agency that oversees, registers and protects a bounty of patents and intellectual property.
In light of this possible development, senior members of the Trump administration have recently expressed concern over this latest challenge posed by Beijing at the world body.
“The US believes that giving control of WIPO to a representative of China would be a terrible mistake,” Peter Navarro, assistant to the President for Trade and Manufacturing Policy, wrote in the Financial Times last week.
He added that Chinese IP theft costs the U.S. economy between $225 billion and $600 billion annually, as well as costing Europe billions in Euros.
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