The spectre that kind of hovers with all economic stories surrounding China these days kind of reminds me of the "vibe" that surrounded trade issues with Japan in the late 80s. The situations are probably very different, but i'm just talking about the manner in which some commentators discuss the issues.CNN.com wrote:HONG KONG (Reuters) - Chinese state-run oil firm CNOOC Ltd. said on Thursday it is confident its $18.5 billion cash offer for U.S. producer Unocal will prevail in the takeover battle with Chevron Corp.
If CNOOC (Research) succeeds, it would be the biggest-ever overseas acquisition by a Chinese firm, reflecting China's broader energy strategy of buying overseas oil and gas reserves to feed its fast-growing economy.
CNOOC Chairman Fu Chengyu said in an interview with Reuters that he expected to win the takeover battle.
Many investors worry that the deal would saddle CNOOC with a crippling debt load. A CNOOC buyout of Unocal (Research) also faces opposition from some U.S. lawmakers.
Fu said CNOOC's bid was "clearly superior" to Chevron's (Research) cash and stock offer to buy Unocal for roughly $16.4 billion -- structured as 75 percent in Chevron stock and the rest in cash.
China's State run oil co. bids $18B for Unical
China's State run oil co. bids $18B for Unical
They are in a bidding war with Chevron over the company. China is the world's #2 oil consumer, and is starting its on Strategic Oil Reserve.
- masteen
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A proper Cartman would have been "My mom sez there are a lot of Chinamen in China."
"There is at least as much need to curb the cruel greed and arrogance of part of the world of capital, to curb the cruel greed and violence of part of the world of labor, as to check a cruel and unhealthy militarism in international relationships." -Theodore Roosevelt
- Fash
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is that what we're here for? to put forth a shining example of humanity?
Kyoukans husband is walking down the street with a case of beer under his arm. His friend Doug stops him and asks, "Hey Bob! Whacha get the case of beer for? " "I got it for my wife, eh." answers Bob. "Oh!" exclaims Doug, "Good trade."
Kyoukans husband is walking down the street with a case of beer under his arm. His friend Doug stops him and asks, "Hey Bob! Whacha get the case of beer for? " "I got it for my wife, eh." answers Bob. "Oh!" exclaims Doug, "Good trade."
Fash
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Naivety is dangerous.
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Naivety is dangerous.