The Norman Transcript

Headlines

May 27, 2014

Hacking case belies profitable links

WASHINGTON — China may be trying to steal trade secrets from U.S. businesses, as federal prosecutors allege. Yet for many U.S. companies, China’s vast market remains an irresistible source of business.

The Justice Department’s indictment last week of five Chinese military officials accused them of trying to pilfer confidential information from American companies. But even some of the alleged U.S. corporate victims of the hackers have little incentive to cheer any trade rupture with China.

One, Westinghouse, is building four nuclear reactors in China.

Another, specialty steelmaker Allegheny Technologies, operates a joint venture in Shanghai.

A third, Alcoa, is the biggest foreign investor in China’s aluminum market. Indeed, Alcoa went so far as to downplay Justice’s charges: “No material information was compromised during this incident which occurred several years ago,” the company said.

American companies are in a delicate position. They want to maintain good relations with China, the world’s second-biggest economy and a market where U.S. firms’ earnings grew nearly 50 percent last year. But they’re also increasingly fearful of Chinese hackers stealing their trade secrets.

Looked that way, the hacking case is “going to be positive in opening up the conversation,” said Jamian Ronca Spadavecchia, founder of the Oxbow Advisory, which advises companies about risks in China and other emerging markets. “It’s bringing into the open some of the issues U.S. companies are facing.”

A U.S.-China Business Council survey has found that cybersecurity is a growing threat for U.S. companies in China: It jumped from to No. 14 last year from No. 23 in 2012 on a list of gripes about the Chinese market. American companies are also increasingly irritated by China’s attempts to censor the Internet, according to a survey by the American Chamber of Commerce in China.

Text Only | Photo Reprints
Headlines
  • Braddy_1. Norman North teen struck by freight train recovering with therapy

    A Norman North teen struck by a freight train in May is on the road to recovery and ready to get back to school after spending most of his summer in a hospital. Harrison Braddy, 16, has been staying busy with rehab and physical therapy ...

    July 28, 2014 1 Photo

  • Storm victims face loan dilemma

    The tornadoes, flooding and hail that struck Oklahoma last year left hundreds of millions of dollars in property damage, causing many home and business owners to seek help in the form of low-interest federal loans....

    July 27, 2014

  • Teen critical after rescue

    A 17-year-old Yukon male was transported to the hospital Sunday after a near drowning incident at Lake Thunderbird in the Party Cove area. Emergency crews responded to the lake after a report of a possible drowning around 5:30 p.m. ...

    July 27, 2014

  • Migrant kids go to Mass

    The services have all the elements of a typical Sunday Mass — singing, scripture, a sermon, prayers, communion and worship....

    July 27, 2014

  • Injury accident reported

    Transcript Staff Emergency crews responded to an injury accident around 10:20 p.m. Sunday in the 1000 block of 80th Avenue Southeast where there were reports of someone pinned. Several reports indicated a vehicle struck a tree causing one ...

    July 28, 2014

  • Photo Slideshow: James Garner through the years

    Photos of James Garner...

    July 27, 2014

  • Prisons expand reach to bring training to more officers

    McALESTER — Joshua Drake once was offered the chance to be a corrections officer but turned it down because he didn’t want to leave his wife and aging parents for six weeks to train hundreds of miles away in El Reno....

    July 27, 2014

  • SWIMMER Aquatic center could serve many community needs

    Michael Yoch could have been the kid with asthma sitting on the sidelines — could have been, but wasn’t. Michael had trouble running because of his asthma, which made it difficult to play soccer and many other sports his friends loved. ...

    July 27, 2014 1 Photo

  • Director leaves decade of memories

    Maureen Dolan is giving up the post as director of St. Joseph’s Early Childhood Development Center, fondly called “St. Joe’s” by the many parents whose pre-school children have spent their weekdays under her care over the past 10 years....

    July 27, 2014

  • Health officials prepare for flu

    OKLAHOMA CITY — Following a flu season in which a record number of Oklahomans died as a result of the virus, state and county health officials say educating the public and general common sense are vital to reducing both the death rate and ...

    July 27, 2014