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Well our next guest recently penned an article about the information security company.
Mandy and its report that expose cyber attacks on at least a 141.
By hackers in China.
We welcome the senior editor of fortune magazine and Fox News contributor Nina Easton.
-- have first I have got to say the story.
-- India and his company -- -- What was terrific great word and great work on his part.
If you come away realizing how dependent we are still.
On the great minds working in behalf of this great country.
That's right small entrepreneurial minds and this is a great air force former Intel officer turned -- -- -- -- And what's been going on -- switzer did laying the ground work with what's been going on -- China they've been systematically.
Stealing our trade secrets.
Particularly in the last five year -- Stealing it technology blueprint stealing recipes ingredients.
Even when when there is deals like emanate deals they go into computer systems of major companies and law firms and get the memos.
On those deals that they've got the upper hand.
This is thing going on for some time -- administration like administrations before it has been trying to deal with this through quiet diplomacy.
The Chinese deny deny and of course take offense but and say well where's the proof.
Well Kevin -- the CEO of man Indian company -- -- this relatively small hundred million dollar revenue cyber security firms said look.
We -- gonna show you some proof and they showed proof.
That these hackers they're not just out of China.
They are part of the Chinese military they are part of the People's Liberation Army a unit in Shanghai.
That has systematically attacked.
Over a 147.
Fortune 500 companies and stolen trade secrets and are undermining our economy.
Undermining our economy -- the adjustments are and they are I should stress.
These are only estimates.
We're talking about intellectual property theft by China.
Principally by China.
Crossing the United States 300.
Billion dollars a year one point two million jobs estimated to be lost.
As a result.
Of those cyber attacks on the United States.
And and our intellectual property where -- be in the public sector or private.
How can this be tolerated.
Yeah I mean China is basically building their economy.
Not solely but largely on copycat -- so they take our technology.
And not you don't necessarily see the results of a copy cat right away it takes some time.
But on that's part of the culture part of the economic culture their part of that really the economic game plan there.
Is to steel technologies.
To steal trade secrets and to use that to build.
There industry and by the way the Pentagon is since -- has come out with -- report saying they're also stealing our national security secrets.
Are -- -- big weapons designs to build their military crisis not just an economic issue it's a national security issue.
Well first let me ask you this -- and is he okay in this have there been repercussions reprisals by the Chinese.
What what is his status right now.
Well -- did you think of the Chinese unlike a lot of other hackers from other countries typically they they have a -- -- supper and fair rules of the road they typically don't destroy systems.
Saturday it's -- it's not -- it's not as obvious as that.
-- but they have tried to hack into the man did computer system.
It's become clear that they're they're trying to get inside there.
Then that one investor told me he worries about down the line not right now but -- sort of reputation -- attack on the small company.
Because what would happen say they take out embarrassing emails and try to undermine the credibility of the company.
And Kevin Mandy -- told me said look.
I knew when I was decided to release this report.
And take on the second biggest economy in the world that we have a gigantic target on our back I knew that but he believed.
That because companies.
Are getting so tired.
This is going on.
There isn't that the Chinese won't do anything to stop -- they won't even engage in serious dialogue with the US he said it's time to do this well.
Indeed it is time and thank goodness that he and yeah others.
And our government are -- doing something.
Obviously a great deal more needs to be done will take up that part of the story -- you'll come back.
Here in that I must have few days meaning he's initiate thank you thank you think that's just how much were.
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