China admits for the first time that U.S. officials ‘have a point’ on IP theft and hacking, Larry Kudlow says
China has acknowledged for the first time that the United States has legitimate gripes about IP theft, forced technology transfer and cyber hacking, White House economic advisor Larry Kudlow told reporters Wednesday.
"President Xi wasn't saying, 'no we didn't, no we didn't, no we didn't.' He was open to listening. And at the lower levels, we heard that. And that's great progress."Chinese smartphone maker Huawei did not come up during the talks, according to Kudlow. Huawei is facing charges from the U.S. Department of Justice over two cases alleging the theft of trade secrets and fraud.
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