China: Buy BP Assets? Could Do!
From Global Voices Online:
With British foreign secretary William Hague in China today at Beijing’s invitation for a fresh round of strategic dialogue on strengthening economic cooperation, online media have chosen to focus on speculation that the larger goal of the talks are to clinch a deal which will see CNOOC purchase assets in BP, reportedly from the oil company’s South America operations.
Readers at NetEase seem to be among the few with much to say on the possibility of buying into BP:
China’s got money, a couple billion in USD foreign exchange reserves, minus the 5 trillion or so we lost in the takeover of Fannie Mae and Freddie Mac. BP, name your price, it’s just pocket change.
They’re loaded and stupid, better move quick
Everyone except China knows that on June 27, BP was formally handed a fine of RMB 420 billion [?], more than [USD 19] billion than their total assets in all of America. There’s no way they can come up with that much cash, which is why they won’t be able to sell unless they make some heavy sacrifices. BP North America is bankrupt and BP South America possibly is too.
China will foot the bill for the Gulf of Mexico, definitely, there isn’t anything China can’t do!
See also “BP’s lucky it spilled in U.S., not Chinese, waters” from USA Today. Also related, see a satirical look at the possible chain of events had the BP oil disaster occurred in China.