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Jan 16, 2020 | Rants
Inaction is Expensive Too!
The WSJ just ran an editorial highlighting the cost of the new trade deal with China – highlighting its high cost.
My thoughts? Yes, it was expensive but as compared to what?
Well documented theft of IP by Chinese companies, some of which are state controlled, has proven extremely expensive for Cisco and DuPont. ONE IN FIVE US COMPANIES say China has stolen IP within the last year! This is according to a CNBC CFO survey.
Knock-off consumer goods have proven expensive for Coach, Ford, Nike, Range Rover, et al. Technology transfers cost Rockwell Collins, Honeywell, GE, etc. huge heartburn.
But what was the cost of inaction?
Yes, the China trade war cost many companies a lot of money and many got bruised. How many, however, were the same that were complaining about IP theft, product knockoffs, and tech transfers?
Did anyone really think China’s malfeasance could be challenged painlessly?
It comes to this…
Nothing important in this world comes easy. Starting a business is hard. Changing careers, getting an education, gaining skills, raising kids, running a company, curing disease and poverty – it’s ALL hard.
But also, worth the effort!
If you think it’s easy and painless, I’ve got a genuine Rolex for sale. $5 bucks!