Office of the Director for National Intelligence says economic espionage by computer hacking (overwhelmingly from China) costs the U.S. economy $400 billion per year!
Amazon opened up a pandora's box of counterfeit goods from China when it streamlined the process for sellers from China to access the American market via its e-commerce platform. The problems are getting worse. See article below.''
As a side note, when I lived in China, I worked for the Bank of China training its executives to learn English in the lead up to the Beijing Olympics in 2008. One of my students was the head of the Bank of China for the city of Xi'an who eventually became the head of the Bank of China for Beijing. He gave me as a gift a special card to keep in my wallet that could detect if money was counterfeit or not using an infrared light. The gift was greatly appreciated due to the fact that I encountered counterfeit money on a regular basis in China. It is deeply a part of the culture there.
This phenomenon helps explain the counterfeit islands China is building in the South China Sea by dredging up sand from the bottom of the sea and then piling it up on top of underwater reefs, rocks and atolls and literally making artificial islands out of them. They then militarize them for future conflict with America in order to do away with Freedom of Navigation in blatant disregard for international laws.
They then claim these artificial islands as Chinese territory and part of their "national sovereignty". This then means that they also get to claim the natural resources in the waters surrounding these man made islands extending 12 nautical miles from shore. This of course infuriates China's neighbors who have traditionally used these waters for fishing and other uses before China started pushing its way into their territories. Just ask the Philippines, Vietnam, Taiwan, Japan, Malaysia, Indonesia, Brunei, etc. just to name a few. Despite an international ruling against the man made islands, China pushes ahead full steam.