Thursday, February 5, 2015

Chinese Economy

Another area of interest of mine is in the Chinese economy. I am currently in Economics 162 which is a study of the Chinese economy and how it went through the developments under Mao’s communism with many changes to erupt into today’s mega economy. What is interesting about China is that their patent laws aren't as strict as they are in the United States from what I can tell from my professor in that class. He mentioned a time when he saw what looked like a Porsche from 100 feet away but then when he got closer it was obviously a replica of the real deal. Many lawsuits are being held in China over patent infringement but it is hard to seek repayment because the Chinese can make so much money off of it in such short time that it is worth it for them to blatantly copy designs from well-known companies. Patents are essential in today’s society but right now China is still growing strong so I am curious as to see when China will start cracking down on that criminal activity and start their own entrepreneurial ventures.  Also, since you have to file a patent in each country you operate in, is it common for companies to not include China because of this lack of protection? Overall, China’s economy is very interesting to me because of how they transitioned from a planned economy into a more market type economy today yet still are slow to adopt traditional patent laws. 

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