British media outlet, the Financial Times, has reported that China’s state owned enterprises have decided to sever all ties with US consulting firms over fears that the latter will reveal state secrets to the US special intelligence forces.
On May 19 the US accused China of cyber espionage and charged Chinese nationals with the offense. The backlash came in the form of a counter-attack from the Chinese government who said that would not accept the charges and instead chose to stop all cooperation with the US on a cyber monitoring project the nations were conducting together.
Now the Chinese government has issued a declaration intending to cut ties with US consulting agencies such as McKinsey, BCG and others. China also plan to set up a committee of senior leaders to take over the consulting duties left vacant by the US companies.
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Keywords: Chinese SOEs to Sever Ties with US Consulting Firms
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Chinese state companies will do their own consultancy tasks now? Haha! They'll be back with their tails between their legs.
May 28, 2014 18:32 Report Abuse
Another political stunt. They make take action against a few companies but that's all. Certainly not all consulting companies in the Nuclear and Solar energy industries.
May 27, 2014 13:59 Report Abuse
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