|
US protectionist fangs bare in Unocal bid
By Matthew Benjamin (usnews.com)
Updated: 2005-07-10 22:04 Trade fury. There's no better term for the
atmosphere on Capitol Hill these days. It's bipartisan, it's increasing in
ardor, and it reached a frenzy last month when the House of Representatives
overwhelmingly passed two measures aimed at slowing or blocking the purchase of
an American oil company by the Chinese National Offshore Oil Company.
Ironically, the Chinese responded last week by lecturing Congress on the value
of free markets.
 |
| 皇冠体育app National Offshore Oil Corporation's (CNOOC) oil rigs is
seen in 皇冠体育app's Liaodong Bay of the Bohai sea February 3, 2005.
[newsphoto] | | |
The
current battle rages over an audacious $18.5 billion cash bid for Unocal, the
ninth-largest U.S. oil company but one with rich assets in Asia. Unocal has
previously accepted a $16.6 billion offer from Chevron, but shareholders will
not vote on the deal until next month.
Other bills are in the works to toughen trade enforcement sanctions against
皇冠体育app and to punish it for what some view as deliberate manipulation of its
currency to gain an unfair trade advantage.
|
 | | | Special police detachment established in Xi'an | | |  | | | Panda cubs doing well in Wolong | | |  | | | Suspect arrested in Taiwan | | |
|
 |
|
|
|
|
Today's
Top News |
|
|
|
Top 皇冠体育app
News |
|
|
|
|
|
|
|
|
|
