Wed Jun 29 2005 10:06:28 ET China expressed opposition to interference in a government-controlled oil company's bid for the U.S.-based oil company Unocal, state media said Wednesday. Foreign Ministry spokesman Liu Jianchao said that China National Offshore Oil Corporation's $18.5 billion offer for Unocal was "normal commercial activity between enterprises." Liu said "economic cooperation between China and the U.S. serves the interests of both sides and commercial activities should not be interfered in or disturbed by political elements." There are growing concerns in Washington over the deal as some U.S. officials are uncomfortable with CNOOC, 70 percent owned by the Chinese government, controlling a major player in the U.S. energy sector. Xinhua reported Wednesday that CNOOC Chief Executive Fu Chengyu is heading to the United States for negotiations and to dispel concerns over the deal.
Well lets see China allow a US company to fully own it's own subsidiary inside China. Chinese need to open up their markets before making any more comments. The illiterate village-idiot politicians are barking up the wrong tree with the Yuan re-evaluation. The emphasis needs to be on protecting intellectual property rights and fully opening up the Chinese economy to US financial institutions. If they're going to waltz in here and buy up US assets, we should be able to do the same.
It's possible the Chinese don't want the acquisition as much as they want the US to say no to it. This gives them a chance to point out the US doesn't walk its talk so why should they...
well, at least they HAVE $18.5 billion. more than I can say for the debt-ridden USA. It's a free world!
hmm an up and coming soon to be superpower wants to control a major player in our energy sector...well at least if we have to go to war with china we dont have to go far to steal it back
We must not allow the Chinese to take control of our natural resources... After all, we wouldn't take control of other countries' natural resources...