Lawn Chair Economics

The U.S. loses as much as $600 billion a year through intellectual property theft: Semiconductors, self-driving cars, sunglasses, and software.

China is the biggest culprit. It has planted moles in U.S. companies and hacked into computer systems to steal secrets. Boeing, Apple, Dupont, Ford have all gone after China for intellectual property theft.

President Trump wants to punish China by throwing up tariffs, but economist Ken Rogoff says we'd do better to turn the other cheek. It may not be a satisfying strategy, he says, but it's a lot more profitable in the long run.

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