After ignoring Western complaints about massive intellectual property violations for years, local government officials in both Shanghai and Beijing have announced the closure of popular markets well—known for selling fake products. While foreign brands continue lose millions of dollars in potential revenue in the Middle Kingdom, small signs of progress are being made. Coming just days after Starbucks won a legal battle against over trademarks against a Shanghai copycat, local government officials announced they are planning to close the famed Xiangyang Market, which an estimated 50,000 people, including thousands of foreign tourists, visit every day. Shanghai's Vice—Mayor Zhou Taitong said the market would be closed after the failure of repeated crackdowns on sales of fake products.  In the local media, Mr. Zhou said Xiangyang had tainted the city's image and about 80 per cent of Shanghai's piracy cases originated from the market. Meanwhile, in the nation's capital, which...(Read Full Post)