Economic Policy Lecture Series 8
The Honorable William H. Lash III
At an Economic Policy Lecture on Tuesday, October 12th, Assistant Secretary of Commerce for Market Access Compliance, William H. Lash III spoke on “Motivating China to Play Fair in Global Markets.”
Lash explained how corporations forgo judgment and try to make big bucks in China because of the nation’s immense population. Unfortunately, the Chinese, who will account for the largest middle-class group in the world within the next five to eight years, do not respect intellectual property rights.
The biggest challenge currently facing China is compliance with the World Trade Organization, specifically, those laws that protect copyrights, trademarks and intellectual property. In China, the further away a province is from the capital, the less compliance there is to the laws, he said.
In China, 90 percent of software is pirated, 50 percent of pharmaceutical drugs are counterfeit and countless other products such as gum, playing cards, Zippo lighters and even NASCAR licensed apparel are shamelessly copied.
However, compliance to WTO requirements isn’t at the top of China’s priority list. The country’s government is more concerned with political stability than stopping the piracy that is killing market shares of worldwide companies.
Countries like Japan and the U.S. are losing $34 to $24 billion a year, respectively, due to the overwhelming, and sometimes dangerous piracy taking place in China.
The Honorable William Lash speaking to Lindenwood students
The Honorable William Lash presenting a certificate of appreciation to