Wall Street Defends Investing In China's Surveillance Boom

New York Times:

Li Runsen, the powerful technology director of China's ministry of public security, is best known for leading Project Golden Shield, China's intensive effort to strengthen police control over the Internet.

The Chinese surveillance market is expected to grow to $43 billion by 2010. A camera watches over a Shenzhen street.

But last month Mr. Li took an additional title: director for China Security and Surveillance Technology, a fast-growing company that installs and sometimes operates surveillance systems for Chinese police agencies, jails and banks, among other customers. The company has just been approved for a listing on the New York Stock Exchange.

Read the whole story: New York Times

Comments

[mrcontinental]

03:07 PM on 09/11/2007

If there is money to be made people will GLADLY invest. They done even care about america so why the hell would they care about china?

[xrepublican]

02:50 PM on 09/11/2007

Perfect it there before installing it here.....

Orwell was only 20 years too early

[michaeljhassett]

11:44 AM on 09/11/2007

China continues to install a grid of cameras and face recognition software and function as Internet super nanny. This technology can be used to fight traditional crime (muggers, Internet kiddie porn or fraud). It can also be used to repress dissent, free speech and political opposition. So what's new? Chinese security official Li Runsen made it obvious that he's getting rich from the surveillance by putting himself on the board of a private surveillance technology supplier incorporated in the US. California Democratic Congressman Tom Lantos is sputtering publicly about the fact that US hedge funds and investment banks are funding China's police state through investment in the the suppliers. The financiers point to surveillance cameras in NYC and say what's the problem. The problem is that NYC is not a repressive one party state (well at least we have a meaningful primary once in a while) that crushes democracy with tanks when the occasion arises. Supplying the high-tech police state is certainly a lucrative business. Returns must be great when the party officials involved in the suppliers are also guiding the purchases. Beware nonetheless, US financiers, it's only a matter of time before this technology is used to make sure that everyone who shows up for the next Tiananmen Square (wherever it may be, even if it is a virtual rally) and everyone who knows anyone who shows up for the next Tiananmen Square will be hunted down and reeducated. Then you, Barry Kitt of Pinnacle and you, Kenneth Griffin of Citadel, and you Jeff Feinberg of JLF can take pride in your role, and if you would prefer to forget about it, then I hope Congressman Lantos is kind enough to remind you.

Low Technologies High Aims - MIT hosts the International Development Design Summit, the engineering and design equivalent (or perhaps much needed partner would be a better view) to the red hot field of microcapitalism. The goal -find affordable, available solutions for real needs of less developed areas, the backpack that makes it easier to carry water, the bicycle powered grain mill, the expandable drip irrigation system. The Summit is a four week workshop that makes real progress on specific projects, not just a meet, greet, inspire and scatter. Let's add a fifth week next time, invite hedge funds in to view the projects as potential investments, maybe come up with a home for some money that doesn't help to make a powerful police state impregnable.

[readyforchange]

10:52 AM on 09/11/2007

Our relationship with Communist China is incestuous and predatory. Guess who will have the last laugh?

[dadw5boys]

09:43 AM on 09/11/2007

We know what your really investing in!
China is building 1 power plant a month or more. Power plants are cash machines.
If you are trolling for investment in suveillence equipment just say so!
Don't offend our common sense.