Making Money In Surveillance [11:05 am]
Wall Street analysts now follow the growth of companies that install surveillance systems providing Chinese police stations with 24-hour video feeds from nearby Internet cafes. Hedge fund money from the United States has paid for the development of not just better video cameras, but face-recognition software and even newer behavior-recognition software designed to spot the beginnings of a street protest and notify police.
Now, the ties between China’s surveillance sector and American capital markets are starting to draw Washington’s attention.
[...] [Rep. Tom] Lantos called American involvement in the Chinese surveillance industry “an absolutely incredible phenomenon of extreme corporate irresponsibility.”
He said he planned to broaden an existing investigation into “the cooperation of American companies in the Chinese police state.”
Executives of Chinese surveillance companies say they are helping their government reduce street crime, preserve social stability and prevent terrorism. They note that London has a more sophisticated surveillance system, although the Chinese system will soon be far more extensive.