U.S. Calls On China To End Hacking; Start Cyberspace Dialogue

New submitter trickymyth writes "For the first time, the United States has mentioned the People's Republic of China in relation to cyber crime, officially acknowledging what has been long suspected by private security experts and the U.S. business community. The Obama Administration seeks to get the Chinese government to acknowledge the problem, to cease any state-sponsored hacker activity, and to start a dialogue on normative behavior on the internet. This announcement follows the recent 60-page report from the American cybersecurity firm Mandiant, who spent two years compiling evidence against the so-called 'Comment Crew.' They traced IP addresses, common behavior, and tools to track the group's activity, which led to a Shanghai neighborhood home to the People's Liberation Army (PLA's) Unit 61398. This tracking came at the behest of the Times, who has experienced some trouble with hacking in the past. The Chinese government rejected the report as 'unprofessional' and 'lacking technical evidence.' This announcement also comes amid a delicate leadership transition in China and numerous new reports on the vulnerability of U.S. business and government networks to attack."

Good Luck With That

[Farmer Pete]

I hope this ends well, but I have a feeling that either nothing will come out of this, or the Chinese will ramp up efforts since they don't have to worry about hiding their efforts.

It will fade away

[Spy Handler]

China is about to have an epic crash when their real estate bubble bursts:

60 minutes on China Real Estate Bubble [cbsnews.com]

When that happens, their economy will tank... similar to what happened in U.S. in 2008. And that will bring out people demonstrating in the streets. The Chinese security apparatus will have its hands full trying to stifle online dissent and stop people from plotting against the government. Cyber attacks on external targets will fade.

Re:It will fade away

[ljw1004]

China is about to have an epic crash when their real estate bubble bursts

A different view, published a week after your CBSNews report:
http://www.forbes.com/sites/kenrapoza/2013/03/11/chinas-non-bubble-housing-bubble/ [forbes.com]

"By comparison, China’s housing bubble is a non-bubble... There’s also nothing close to a mortgage backed securities bubble and no sub-prime lending...'You don’t see the same amount of bank stress that you see in the U.S. because the debt levels are significantly lower, both for the builders and for the buyers'."