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Contributed by mm | June 25, 2005 9:30 AM PST
Well said. I don't think people should put on the politics hat when China wants to buy something in the States.
From Wall Street Journal:
The Cnooc bid, by far the largest foreign acquisition ever attempted by a Chinese company, highlights a fundamental dilemma for the U.S.: While politicians may be railing against China's growing role in the American economy, U.S. companies are just as actively buying into China -- and they worry that a strong Washington response could trigger a costly trans-Pacific backlash.
Last year, Anheuser-Busch Cos. won a messy takeover fight for China's Harbin Brewery Group. Bank of America Corp., the nation's second largest bank, agreed this month to pay $2.5 billion for a 9% stake in China's largest mortgage lender, state-run China Construction Bank. Bank of America has the right under the deal to expand its share to 19.9%. The bank's chief executive, Kenneth Lewis, yesterday discouraged talk of doing anything to damp Chinese investment in the U.S., telling CNBC: "I don't think it can be a one-way street."
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