PC Magazine has the article Chinese Cyber Espionage: Don’t Believe the Hype.  The article touched on some scary headlines about cyber espionage reputed to be coming from the Chinese government.

These headlines are scary, and they are certainly indicative of how nations will interact in the digital age: countries will hack one another, secrets will be stolen (and likely sold). Retired Lieutenant General Harry Raduege said as much at the RSA conference this year, when he described a kind of cyber “warm war” with a few major hacks hitting the front page of newspapers from time to time. The scariest thing from all these reports is that the U.S. seems to still be coming to terms with that.

But it’s also important to take this news with some big grains of salt. The Department of Defense is facing the possibility of huge cuts while the nation wrings its hands about the deficit. In an age of sequestration, it’s a good idea to have a reason to spend billions and trillions on new and better defense programs. And with the war in Iraq over while operations in Afghanistan coming to a close, the search is on not just for future threats but also the justification for future spending.

I don’t claim  that this article is the definitive word on the subject.  Even this article says that our government is not treating the threat seriously enough.  What we have to guard against is being stampeded into taking irrational actions either on poorly thought out Defense Department/CIA/NSA spending or on punitive actions we take against countries like China on scant evidence put forth by people and groups with an ulterior motive.