Intense debate surrounds China's current bid to take over Unocal. I'll just add my voice to the massive number of people who understand that allowing a Chinese-government-owned company to buy a hugely powerful American oil company is simply a bad idea.
Were that alone not enough, with all of China's posturing, and the possible raising of bids, they're discouraging even the smallest amount of foreign involvement in their country. They've even forbidden Chinese media from associating with foreign companies.
So, are we getting the message? We can't afford a round of "Do as we say, not as we do." As good at that as America itself is, we simply can't match the ability of the Chinese government to divert funds for direct economic take-over of American companies.
If they won't let a privately owned enterprise make deals with their local media outlets, why in blazes should we extend them the courtesy of, for heaven's sake, owning an American oil company? It makes no sense.
Makes me wish I owned a substantial number of shares of Unocal, though. I'd be voting to nix China's bid.
As it stands, all I can do is hope Unocal's shareholders make the right decision. If they make the wrong one, though, what can we do?
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