Should the US and China begin negotiating a free trade agreement? That is one idea proposed in the Bloomberg BusinessWeek article titled The Big Switch, a special section following the U.S.-China Strategic and Economic Dialogue which took place at the start of May.
In addition to insights into the evolving trade relationship between the two countries, investment in the USA and moves westward by Chinese companies, CREATe.org is also featured in the article. President and CEO Pamela Passman highlighted the importance of IP protection and corruption prevention in this new era. A few quotes from the piece:
“According to CREATe.org’s CEO and President, Pamela Passman, MNC’s are looking more holistically at both the challenges and opportunities in each market. Meanwhile, calls for action worldwide against unlawful and unfair practices are multiplying. ‘Governments certainly have a role to play, but in some countries there are low levels of compliance with the law and little adherence to internationally accepted responsible business practices,’ says Passman. ‘As a result, the onus of protecting trade secrets often falls on individual companies.’ “
“Our work is focused on creating levers that MNCs can implement and manage themselves within their own supply chains. Responsible business practices need to be implemented faster. If they aren’t, MNCs will continue to face vast losses that are far beyond what most people realize.”
“There is an opportunity for MNCs to play a more deliberate and proactive role in protecting IP and trade secrets by engaging in responsible business practices across their global supplier networks.” Increasingly, MNCs are speaking openly about these challenges, and that is a big step in the right direction.”