Chinese bid to take over major US oil company

Post #212,620 by bluke 6/26/05 6:13:50 AM Reply	Chinese bid to take over major US oil company [link\|http://www.nytimes.com/2005/06/26/business/26unocal.html?hp&ex=1119844800&en=0832ad358e353752&ei=5094&partner=homepage\|With Bid for Unocal, U.S. Struggles on China Policies] President Bush's initial response to the proposed takeover of a major American oil company by a Chinese rival has been to duck. It is not hard to see why. The $18.5 billion offer by the China National Offshore Oil Corporation for Unocal, which had already made a deal to be acquired by the American oil giant, Chevron, is forcing the administration to confront its own internal rifts over whether China should be viewed as friend, foe or something in between.
Post #212,644 by JayMehaffey 6/26/05 1:27:36 PM Reply	Another situation where the for/against view hurts Bush's dealings with China is another situation where his 'your either for us or against us' worldview hurts. China is a large threat to the US, but they are not a military one and treating them as such is liable to make them an even bigger threat. US policy towards China neads to be one of a friendly rival, that increasing economic, social and political openness are good but China still has a long way to go. As for the Unocal situation, I don't know. I need more information about what Unocal actually owns and how much market share they have before I could make an opinion on that. If Unocal is primarly a refinery and distribution company, then I don't think it would be a problem. But if Unocal owns too much actual drilling rights, then it might be against the US's long term interests to sell it to China. Jay
Post #212,676 by bluke 6/27/05 6:11:24 AM Reply	Paul Krugman would block the deal [link\|http://www.nytimes.com/2005/06/27/opinion/27krugman.html\|The Chinese Challenge] ... If it were up to me, I'd block the Chinese bid for Unocal. But it would be a lot easier to take that position if the United States weren't so dependent on China right now, not just to buy our I.O.U.'s, but to help us deal with North Korea now that our military is bogged down in Iraq. This surprises me, I would have thought a liberal like Krugman would not object.
Post #212,705 by tuberculosis 6/27/05 12:36:53 PM Reply	Our economic power is being siphoned east China is gonna own the US pretty soon. Its already over leveraged. Reminds me of the movie Americathon. "Whenever you find you are on the side of the majority, it is time to pause and reflect" --Mark Twain "The significant problems we face cannot be solved at the same level of thinking we were at when we created them." --Albert Einstein "This is still a dangerous world. It's a world of madmen and uncertainty and potential mental losses." --George W. Bush

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