Signed into law. And later retired general john allen talks about the u. S. Strategy for combatting isis. The Hudson Institute hosted a discussion today on economic Cyber Attacks and espionage. Mike rogers and zarate who served during the george w. Bush begin station. They talked about current security measures being used by the u. S. And its allies and where there is room for improvement. This is two hours. All right. Good afternoon. Im samantha ravage, the Principle Investigator on this project. And i want to thank everyone for attending. In particular, i want to thank the Hudson Institute and defense of democracies for cohosting this event. I also want to thank the coauthors of the monograph. Some will be speaking today. Zarate dubowitz. I dont know if tiffany is here. If you havent seen it, tiffany was quoted extensively in a recent Washington Post on the cyber vulnerabilities of the auto sector. A few housekeeping notes before we get started. The first panel will begin momentarily. And about one will roll into the second panel. There is a short survey if you could, if you havent taken it already, we would really appreciate it. Its anonymous, short. Fill it out and leave it in the box. It will give us a better idea about how people are thinking about cyber enabled Economic Warfare and where resources should be put to it. We will be publishing both a synopsis of the seminar and the results of the survey. So stay tuned. Let me set the stage for a few minutes on how it really got started. It really is its genesis back to the mid1990s. In discussions with incredibly smart people like manager and Nadia Shadlow at the organization that sponsored this work about economics and security. So in 1997, the Asian Financial crisis hit, if you remember. It began in thailand and contagion quickly spread to indonesia, south korea malaysia, other countries throughout the region. Foreign debt to gdp ratios rose over 180 . During the worst of the crisis, riots occurred governments fell. The causes of the crisis were varied. But most experts think it was the combination of crony capitalism and flooding the market with cheap money and simultaneous slump in Semi Conductor prices with the rise of the value of the u. S. Dollar. From our perch in west port connecticut we discussed how economic destableation in asia could protect larger regional securities. What would it mean for relations. China and taiwan. What would it do to radical separatists lake guam, indonesians, and the philippines. It was the malaysian Prime Minister at the time, what he was saying that really got us thinking. He directly pinned the blame on international financiers. Saying they purposely sabotaged the malaysian economy. He used the words attacked and said the economic fires were no accident. But a western conspiracy to rule the world until other countries have run their affairs. We discounted the malaysianspecific diatribe rhetoric and thinly veiled semitistm if you remember that part. We thought back on americas use of Economic Warfare against the nazis and then against the soviet union. We began to think if and how the u. S. Would need to think differently about the threats and capabilities as the world Financial Markets became more automated and integrated. Over the next decade, the conversation waxed and waned. And then came back as evidence started piling up on u. S. Banks, u. S. Defense contractors, u. S. Intellectual property electric grid, our health care system, the most sensitive parts of our government. Were we seeing something new. There has always been Economic Warfare. One goes after the economy to another to effect and weaken its overall strength. But the rise of the global electronically networked economy and the growing cross porter integration and interdependence has produced sizable opportunities for various actors to develop new methods and strategies of Economic Warfare. Increasingly could contemplate new possibilities for using pernicious cyber economic assets and systems in order to cause harm to a target state security capabilities. So we label this new class of security threats cyber enabled Economic Warfare. The attempt at achieving political and security goals through cyber enabled economic aggression. And in this type of warfare the United States is particularly vulnerable. As former dni said if we were in a cyber war today, the United States would lose. It is not because we do not have talented people or cuttingedge technology, but we are the most dependent and most vulnerable. So we started this project with a few organizing questions. One, within the escalating Cyber Attacks is there lurking a new type of action. A strategy to undermine the u. S. Economically. Two, are there adversaries whose strategies are specifically designed to cause economic harm to weaken or significantly debit tate u. S. Security capabilities. Three, is the u. S. Prepared to identify and address such strategies effectively. And four, if not, what can and should be done. So we did not attempt to provide definitive answer through the monograph and the seminar. Rather what we wanted to do is start a robust, much needed debate on this topic. The chapter authors and those who have participated in some of the seminars we have held have been willing to put novel and creative approaches on the table. Some workable some might not yet be workable. But critical for new ways to be explored to address this problem. To a person we are certain that u. S. Intelligence, defense, treasury, and Homeland Security departments and agencies appear to be inadequately constructed or attuned at present to address the way these threats are evolving. The u. S. System for detecting evaluating and addressing cyber enabled economic threats seems structurally in adequate and in sufficiently focused on the matter. This raises concerns about americas preparedness for identifying and responding to existing Economic Warfare threats. Even more so that its ability to match the rate of their evolution. All right. And with that i want to turn to our first panel that examines the evolving nature of this debate. Were honored to have three highly knowledgeable and well regarded individuals. So our format is that each will speak for about 10 minutes. And we will open it up to q a
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