[prev in list] [next in list] [prev in thread] [next in thread]
List: isn
Subject: [ISN] =?iso-8859-7?q?The_Escalating_US-China_Spying_War_Is_McKins?= =?iso-8859-7?q?ey=A2s_Loss_and_H
From: InfoSec News <alerts () infosecnews ! org>
Date: 2014-05-27 16:34:42
Message-ID: alpine.DEB.2.02.1405271634290.12274 () infosecnews ! org
[Download RAW message or body]
http://www.nextgov.com/cybersecurity/2014/05/escalating-us-china-spying-war-mckinseys-loss-and-huaweis-gain/85216/
By Heather Timmons
Government Executive
May 27, 2014
US consultants may be the next victim of the US and China's escalating
battle over cyber-spying. Chinese officials have asked state-owned
enterprises to stop employing US consulting companies, the Financial Times
reported (paywall), because of fears they are reporting company secrets to
the US government.
The ban could boost the business of a company once slammed with
allegations of spying for the Chinese by the US government. Equipment
maker Huawei gave up on the US market after it was unable to convince the
US government it was spying for Beijing, but still grew revenues 8.5% in
2013, as business in Europe and Asia grew.
The new rules come after Beijing forbid Chinese government offices from
using Windows 8 last week and said they would vet imported IT equipment,
and the US Department of Justice indicted five Chinese army personnel for
stealing corporate secrets from US companies. Also last week, China's
Ministry of Finance proposedthat foreign accounting firms be banned from
working on mainland Chinese accounts without a local partner, a move that
could be as much about protecting China's domestic industry as it is
spying concerns.
The most recent ban could have a wide impact, depending on how Beijing
decides to define "consulting." Wall Street's big investment banks, after
all, advise and consult with numerous state-owned enterprise clients in
China on everything from raising money to foreign takeovers. Some of the
US's biggest public relations firms have a big presence China, where
they've been advising state-owned clients on IPO road shows and
presentations to raise foreign capital.
[...]
--
Subscribe to InfoSec News
http://www.infosecnews.org/subscribe-to-infosec-news/
[prev in list] [next in list] [prev in thread] [next in thread]
Configure |
About |
News |
Add a list |
Sponsored by KoreLogic