International Business Machines Corp. (IBM) Will Now Share Tech With China, Help Build Its IT Industry

International Business Machines Corp. (NYSE:IBM) is changing its tone when it comes to its relationship with China and the country’s technology companies.

According to a report from Reuters, International Business Machines Corp. (NYSE:IBM) Chief Executive Officer Virginia Rometty said in a speaking engagement in China that her company is now willing to share its technology with the country and its technology companies. Furthermore, Big Blue will also strive to help develop China’s IT industry.

“If you’re a country, as China is, of 1.3 billion people you would want an IT industry as well. I think some firms find that perhaps frightening. We, though, at IBM … find that to be a great opportunity,” Rometty is quoted as saying by Reuters.

Rometty made the comment on Monday at the annual China Development Forum in Diaoyutai State Guesthouse in Beijing. According to Reuters, the remarks made by the International Business Machines Corp. (NYSE:IBM) CEO is “among the clearest acknowledgements” made to date by a top-level U.S. technology company executive about the need for U.S. companies to adopt a different approach regarding their dealing with China and its technology sector.

International Business Machines Corp. (NYSE:IBM)’s change of strategy comes after the Chinese government has been actively persuading the Chinese people and Chinese companies to start using more and more technologies made in China. This is partly a response to leaks by former U.S. National Security Agency contractor Edward Snowden about U.S. spying, Reuters notes.

In other news, Cisco Systems, Inc. (NASDAQ:CSCO) just recently said that to avoid NSA snooping, it is willing to go to greater lengths to protect equipment it makes, including shipping new equipment to empty addresses to combat the installation of backdoors. According to information leaked by Snowden, a group inside the NSA called Tailored Access Operations intercepted and installed bugs in equipment made by companies such as Cisco, Dell, Huawei, Juniper Networks, Maxtor, Samsung, Seagate and Western Digital.

David E. Shaw’s D.E. Shaw & Co., L.P. owned about 3.37 million International Business Machines Corp. (NYSE:IBM) shares by the end of 2014’s December quarter, up 153% quarter over quarter.

I Just Made 84% in 4 Days By Blindly Following This Hedge Fund

I just made 84% in 4 days by blindly imitating a hedge fund’s stock pick. I will tell you how I pulled such a huge return in such a short time but let me first explain in this FREE REPORT why following hedge funds’ stock picks is one of the smartest things you can do as an investor. We launched our quarterly newsletter 2.5 years ago and not one subscriber has, since, said ‘I lost money by EXACTLY following your stock picks’. The reason is simple. You can beat index funds by creating a DREAM TEAM of hedge fund managers and investing in only their best ideas. I just made 84% in 4 days by blindly imitating one of these best ideas. CLICK HERE NOW for all the details.