Most Americans have never thought twice about intellectual property (IP). If you haven't, I sure don't blame you. IP is a big, seemingly abstract concept that can be hard to wrap your head around.
But I'm here to tell you – it's absolutely critical to your prosperity that you understand what's happening right now.
The U.S. Patent & Trademark Office estimates that the intellectual property associated with 81 industries added $6.6 trillion to global GDP in 2014, the last year that there's data.
That same year, IP-intensive industries accounted for a staggering 38% of U.S. GDP, a figure that may approach 50% in 2019 thanks to the speed at which technology is advancing.
Simply put: Our nation depends on IP.
So does your money.
And yet, a recent CNBC poll found that one in five American companies have reported that Chinese companies have stolen intellectual property from them over the past year.
Damages are hard to calculate, but estimates range from $225 billion to $600 billion annually.
That's not "total"; that's not "over time." That's in one year.
Let me show you why this is so critical and why – love him or hate him – the president absolutely must be tough on China when it comes to this issue…
About the Author
Keith Fitz-Gerald has been the Chief Investment Strategist for the Money Morning team since 2007. He's a seasoned market analyst with decades of experience, and a highly accurate track record. Keith regularly travels the world in search of investment opportunities others don't yet see or understand. In addition to heading The Money Map Report, Keith runs High Velocity Profits, which aims to get in, target gains, and get out clean, and he's also the founding editor of Straight Line Profits, a service devoted to revealing the "dark side" of Wall Street... In his weekly Total Wealth, Keith has broken down his 30-plus years of success into three parts: Trends, Risk Assessment, and Tactics – meaning the exact techniques for making money. Sign up is free at totalwealthresearch.com.