28 April 2026

Seeing the Cyber in Economic Statecraft

Jason Blessing

Americans lost nearly $21 billion to cybercrime in 2025, a new record for cyber-enabled economic losses. Private sector losses to malicious cyber activity regularly exceed $200 billion in a given year. Alongside criminal groups, state-sponsored hackers are increasingly targeting America’s pocketbook. Neither the economic sphere nor cyberspace are classic terrestrial warfighting domains. Yet war is being actively waged through both realms and national cyber security is vital to the prosperity and protection of today’s hyperconnected economy.

China is both the greatest economic threat and the most active and persistent cyber threat to the United States. Both its economic and cyber statecraft campaigns reach deep into America’s government, private sector, and critical infrastructure. These two efforts overlap: Cyber espionage, digital theft, and supply chain compromises are key pillars of China’s strategy to undermine the U.S. economy. Addressing this challenge requires marshaling economic and cyber power into cohesive, coordinated campaigns.

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