By Nathaniel DeLucia
The
Chinese government recently announced a new policy aimed at limiting their
dependence on foreign technology. The
policy will require all Chinese banks to turn over the source code for all the
various software and technology the banks may utilize. The idea is to identify foreign source code
and replace them with local software products.
This comes as part of a larger plan to eliminate foreign technology from
banks, state-owned enterprises and the military by 2020. If the policy succeeds, U.S. companies may
not be able to sell their software products to these lucrative industries.
For
the complete story, check out Bloomberg News.
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