Ratcliffe: We Lose $4,000-$6,000 Per Household to Chinese Economic Espionage Every Year

During a portion of an interview with CBS on Thursday, Director of National Intelligence John Ratcliffe stated that as “an economic threat and a technological threat,” China is a threat “that the United States hasn’t had to deal with before.” He also said that the U.S. loses $4,000 to $6,000 per household every year to Chinese economic espionage.

Ratcliffe stated, “China intends to dominate the world economically, militarily, and technologically. They intend to be the world’s superpower. We’ve had challenges before, Nazi Germany, Russia as the Soviet Union, the Iron Curtain. But this is different. Because China — those were primarily military threats. China is an economic threat and a technological threat, and that’s something that the United States hasn’t had to deal with before.”

He also said that the government estimates that America loses “about $500 billion a year, which would impact every American household $4,000-$6,000 a year as a result of what China is doing on the economic espionage front.”

Follow Ian Hanchett on Twitter @IanHanchett

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