• With: Dan Henninger, Dorothy Rabinowitz, Matt Kaminski, James Freeman, Bret Stephens

    STEPHENS: This is a Communist country. It is a sinister country that believes in espionage, believes in under-handed methods. We tend to forget this aspect of China looking at skyscrapers in Shanghai and so on, but that is the nature of the regime from the beginning.

    GIGOT: But is this going to work for them. I mean, they haven't stopped us from publishing any stories? They're not going to stop us from publishing those stories.

    STEPHENS: Right. It's sinister but it is also stupid in they way that sinister often is, because ultimately this was going to be discovered and it was going to be exposed. It's self-defeating on their part because they have to develop an innovation culture, and trying to steal secrets is not going to help them do that.

    GIGOT: What can we do? What's the United States to do? Individual companies can try to harden their systems. We're trying to do that. Track what they do. But what can the United States, as a policy, do?

    KAMINSKI: As companies need to keep innovating, because this will keep happening. The Times and the Journal found these hackers now, but everyone is sure they are going to come back. And I think the government has trying to find ways to share the know-how that the national security agency and the Pentagon have with the private sector. Because the government has invested for a very long time in cyber defenses.

    GIGOT: Right.

    KAMINSKI: Their defenses are probably much better than the defenses around the private sector in the U.S.

    GIGOT: Not probably. I think -- I mean, I think they are.

    (LAUGHTER)

    Everybody we talk to say the U.S. government has developed a cyber command, for example --

    KAMINSKI: Right.

    GIGOT: -- do a pretty good job of hardening their systems. But the private sector doesn't do nearly as well. But should we make this a real priority in dealing with China, Bret, briefly?

    STEPHENS: It has to be. Because intellectual property is the property of the future. It's what really matters. If the Chinese are going to continue to steal it, we have to stop them.

    GIGOT: OK, Bret. Thanks to you both.

    We have to take one more break. When we come back, "Hits and Misses" of the week.

    (COMMERCIAL BREAK)

    GIGOT: Time for "Hits and Misses" of the week.

    Dan, first to you.

    HENNINGER: Paul, the postal service has announced it's going to terminate Saturday delivery of mail. This a big hit because it means it's probably one fewer day a week you have a chance getting the wrong mail.

    (LAUGHTER)

    Now, where I live in New York, we get misdelivered mail about every third day. I got a W-2 form this week for a fellow who lives hundred blocks north of me. We've made friends with the people on the next street --

    (LAUGHTER)

    -- taking our mail back and forth to one another.

    (LAUGHTER)

    Now, the Postal Service says this will reform the post office. I say the proof is in that mailbox.

    GIGOT: All right.

    Bret?

    STEPHENS: This is a miss to that well-known playwright and poet and, dare I say, Tudor propagandist, William Shakespeare.

    (LAUGHTER)

    This week, as everyone knows, the remains of Richard III were exhumed. We know Richard II mainly through the play. Mr. Shakespeare, which condemns him as a terrible, awful king. As he is being -- as Richard is being exhumed, he's also being rehabilitated. Shakespeare said, "I scorn to change my state with kings," but we should just do that.

    GIGOT: All right.

    James?

    FREEMAN: This is a miss to the least interesting lawyers in the world who populate the Anti-Trust Division of the Justice Department. They are suing to block the merger of Anheuser-Busch and Modelo, which makes Corona beer. They seem to think, even though breweries are opening up at a rate of more than one a day --

    (LAUGHTER)

    -- that these companies will control the beer market. All you really need to make beer, of course, is a bath and a guy with a beard. So this is not a market they can control.

    GIGOT: Bret, we've always suspected you of Plantagenet revisionist tendencies, and now you are outted.

    (LAUGHTER)

    All right, and remember, if you have your own "Hit or Miss," please send it to us at jer@foxews.com. Be sure and follow us on Twitter @JERonFNC.

    That is it for this week's show. Thanks to my panel and especially to all of you for watching. I'm Paul Gigot. Hope to see you right here next week.

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