US Lacks ‘Effective Tool’ to Stop China’s Tech Theft: Treasury Official

WASHINGTON—The United States lacks an effective tool to adequately combat widespread espionage and intellectual property theft being perpetrated by China’s communist regime, according to a U.S. Treasury Department official.
Despite years of competition and ongoing IP theft, the United States has not developed the tools required to target and prevent the continued transfer of sensitive U.S. technologies to China, according to Assistant Secretary of the Treasury Paul Rosen.
“We currently assess we don’t have an effective tool to target the money and sophistication with know-how that goes into these sensitive and most critical technologies into countries of concern,” Rosen said during a May 31 hearing of the Senate Committee on Banking, Housing, and Urban Affairs….}