Cnooc and Unocal - creating your own reality

When Cnooc, the Chinese government-owned oil company, dropped its bid to buy Unocal this month, it said political opposition in Washington had scuttled the plan. The question oil companies now face is whether they might suffer similar political retribution in their own dealings with foreign governments.

question... if the shoe had been on the other foot and political opposition in china scuttled an offer by a u.s. company for a chinese oil company, do you think the united states would engage in retribution...? second question... does a bear shit in the woods...?

(the nyt gives its opinion...)

When analysts and economic historians look back, this summer may well prove to be the turning point in Chinese-American relations, the time when America chose short-range paranoia over rational behavior.

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