“They [China] have made possible systematic stealing of intellectual property of American companies and have not been very aggressive to put in place the basic protections for property rights that every serious economy needs over time,” Geithner told a forum in Washington on Thursday, according to a report filed by Reuters.
Well, maybe it’s time for China to start playing by the rules—our rules, that is—although back in the 19th century the U.S. did not respect other nations’ patents or copyrights. And, of course, one could also argue that the agreements that Geithner is bitching about are the result of the free market. There isn’t any law that says you have to manufacture goods in China. Or one could also argue that China’s ability to demand these concessions are due to its size and the educational level of its citizens, which suggests that the market is freer for big guys than for little ones. Hmmmm. The strong do what they can, the weak suffer what they must. Sounds like Euripides was way ahead of Adam Smith.
