The world’s second largest economy is shunning confrontational tactics in business dealings with the U.S. and Canada in favor of a newly adopted lobbying strategy, which is being tested by its North American partners. From Paul...
From Asia Times Online: The Chinese National Offshore Oil Corporation’s recent attempted acquisition of Unocal raised American fears that China could challenge American energy security. Inside the beltway, conventional wisdom said spiking such Chinese deals would make the United States safer. Torpedoed by concerted lobbying by energy firms and administration China hawks, the deal was […]
From the Fall 2005 issue of the National Interest: Because of its size, rate of change, unanticipated success and political coloration, China has become the poster child for those aspects of globalization that threaten the...
From The Washington Post: Last week congressional bullying drove China to abandon its bid for Unocal, a small California-based oil company. Anyone inclined to celebrate should focus on the likely sequel: China will redouble its efforts to buy energy and other resources in shaky developing countries. This will undermine Western efforts to promote transparency and […]
From The BusinessWeek Online: Politics and a lack of focus and speed killed CNOOC’s chances of success. What lies ahead for the cash-rich but wounded oil company? ……”NO GAME PLAN.” Analysts agreed that Unocal had offered CNOOC an unusual target because of its strategic assets in Southeast Asia. More aware now of the harsh political […]
From The Financial Times: China National Offshore Oil Corporation has withdrawn from the battle for Unocal (click here for the latest), throwing the focus once more on China-US relations. Joseph Stiglitz, Nobel Prize winner in...
From The New York Times, via A Glimpse of the World: Lately there has been much grandstanding about the dangers of the bid by a government-backed Chinese oil company, Cnooc, for Unocal. But American protectionists are focusing on the wrong target. It’s true that China could be a threat to American energy security some day, […]
From the New York Times: Oil is the ultimate geopolitical commodity – it is “The Prize,” as Daniel Yergin titled his epic history of petroleum and international politics. And even if Cnooc fails to grab Unocal, the pursuit has pushed the two sides of the Chinese challenge together and into the spotlight of public debate. […]
From The Financial Times (Sub. required): The board of CNOOC is expected to meet on Wednesday to approve changes to its $18.5bn takeover bid for Unocal following several weeks of negotiations with the US oil and gas group. CNOOC directors will also consider granting management a green light to raise the state-owned Chinese company’s offer […]
From the Chicago Tribune: Congress and columnists are in a predictable tizzy over the news that CNOOC, a state-owned Chinese oil company, had put in an $18.5 billion bid for Unocal, a U.S. oil company… There are several things to be said about all this, none of it good news for Americans who thought we […]
From Caijing, via Press Interpreter, translated By David Lancashire: 11:30pm on June 6th, Beijing time, in the Zhonghai Oil building outside Dongzhimen in Beijing. 54 year old Fu Chengyu dialed through to Charles Williamson, Chairman of the Board for Unocal. Williamson had just touched down in Thailand in a charter jet. “It’s passed board approval, […]
From The New York Times: Two years ago, the China National Offshore Oil Corporation and another Chinese state-controlled oil company seemed on the verge of capturing a large patch of foreign oil reserves with a handshake deal to pay $1.23 billion for part of a field in Kazakhstan. Skip to next paragraph But the prospect […]
From The Washington Post: The chairman of CNOOC Ltd., the Chinese energy firm embroiled in a thorny campaign to purchase the U.S. oil company Unocal Corp., voiced dismay on Wednesday over what he called “overreaction” from Washington by those portraying the deal as a threat to fair trade and U.S. national security. In an interview […]
From The New Yorker, via A Glimpse of the World: When the China National Offshore Oil Corporation, or cnooc, made an $18.5-billion bid for the American oil company Unocal two weeks ago, topping a previous offer of $16.5 billion from Chevron, a political storm was inevitable. The Chinese government owns seventy per cent of cnooc […]
From The Washington Post: The Chinese government on Monday sharply criticized the United States for threatening to erect barriers aimed at preventing the attempted takeover of the American oil company Unocal Corp. by one of China’s three largest energy firms, CNOOC Ltd. Four days after the House of Representatives overwhelmingly approved a resolution urging the […]
From The New York Times: NOT even 20 years have passed since the apparently unstoppable Japanese economic juggernaut struck fear in the hearts of Americans, and now China has emerged to be seen as the new economic menace threatening the nation’s vital strategic interests. America’s boom in the 1990’s, coupled with Japan’s decline into an […]
From the Los Angeles Times (free registration required): Voicing concern about national security and the U.S. economy, the House of Representatives passed two measures Thursday aimed at blocking the proposed takeover of El Segundo-based Unocal Corp. by a Chinese oil company. In a strong bipartisan vote of 333 to 92, the House approved an amendment […]
From the Economist: The spat over CNOOC is a symptom of the growing unease felt in developed economies, but especially in America, as more and more Chinese companies have looked abroad for expansion and technological know-how. Just days before the CNOOC bid, Haier, a white-goods maker, bid $2.25 billion for Maytag, a troubled American rival. […]
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