From the International Herald Tribune: Powerful forces are pushing the United States and China toward a more antagonistic relationship. This ominous shift was signaled by the anti-Chinese fever in Congress that doomed the takeover bid by the Chinese National Offshore Oil Corporation for the U.S. company Unocal, and by a Pentagon report that paints China […]
From the New York Times: The giant Chinese oil company Cnooc today ended its $18.5 billion takeover bid for the Unocal Corporation of America, citing fierce political opposition to its bid in Washington that it called “regrettable and unjustified.” The decision, which was announced this morning in New York, ends a fierce takeover fight between […]
From the San Francisco Chronicle: Chevron Corp. has given campaign contributions to politicians trying to block the company’s Chinese rival in the bidding war for Unocal Corp., with some of the money flowing in the last month. Chevron, a prolific donor in Washington, has funded some of the lawmakers who have been most critical of […]
From Jamestown Foundation’s China Brief, via Asia Media: The CNOOC bid came at a sensitive time in U.S.-China relations. Since earlier this year, the members of the second Bush administration have repeatedly warned that the United States had previously underestimated the speed of the Chinese military’s modernization drive. With the U.S. trade deficit going further […]
From the San Francisco Chronicle: Boeing could lose billions in contracts for commercial jetliners. A deal to speed lucrative sales of U.S. software to Chinese government agencies could come undone. Beijing may become more intransigent about revaluing its currency vis-a-vis the dollar. The business climate for U.S. companies heavily invested in China’s fast-growing market could […]
From the San Francisco Chronicle: China’s third-largest oil company has run into roadblocks in both houses of Congress over its bid to buy California’s Unocal Corp., a controversial quest that has raised national security fears. Sen. Byron Dorgan, D-N.D., introduced a bill in the Senate on Friday that would bar the Chinese National Offshore Oil […]
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