Posted on 06/29/2005 8:15:49 AM PDT by spycatcher
BEIJING, June 29 (UPI) -- China expressed opposition to interference in a government-controlled oil company's bid for the U.S.-based oil company Unocal, state media said Wednesday.
Foreign Ministry spokesman Liu Jianchao said that China National Offshore Oil Corporation's $18.5 billion offer for Unocal was "normal commercial activity between enterprises."
Liu said "economic cooperation between China and the U.S. serves the interests of both sides and commercial activities should not be interfered in or disturbed by political elements."
There are growing concerns in Washington over the deal as some U.S. officials are uncomfortable with CNOOC, 70 percent owned by the Chinese government, controlling a major player in the U.S. energy sector.
Sino-U.S. commercial ties are strained on a variety of fronts as China emerges as major economic power, including a massive trade imbalance, widespread copyright and intellectual property infringements plus accusations the country manipulates its currency.
Xinhua reported Wednesday that CNOOC Chief Executive Fu Chengyu is heading to the United States for negotiations and to dispel concerns over the deal.
response; US to China: kiss off!
F**k China.
Bush will be only to eager to bend over.
We are nuts if we let this go through.
and Americans continue supporting the Chicoms by buying MADE IN CHINA goods...
you figure it out!
Sure it is just a normal deal. All the oil that Unocal provides would go to China, making the supply even shorter here.
ummm would that interference include a government controlled agency buying a private company in another nation?
Why do we continue to put up with this?
You know what we should do? FR should nominate one Freeper from each state to run for Senate, and at least a few House candidates...let's see just how powerful we can be!
Deals with companies owned by repressive governments do not constitute "normal commercial activity between enterprises."
The Freeper Party. I like the sound of that.
Interesting. A communist country wants to separate politics from commerce when it's to their benefit. I wonder if talking out of both sides of their mouth at the same time is painful?
Just read China Inc, and I recommend it. Seems like China recognizes no laws.
China clearly aims to position itself as an alternative to America as an ally and armorer of countries that oppose U.S. foreign policy. Amy Myers Jaffe, a fellow at the James A. Baker III Institute for Public Policy at Rice University, told the New York Times that the Chinese "tend toward countries where the U.S. has sanctions like Sudan, Iran and Iraq." She might have added that China also tends towards countries that are key suppliers of the oil that keeps the wheels of American commerce turning.
China is not confining the extension of its influence to the Middle East. The Western Hemisphere is also in its sights. Canadian prime minister Paul Martin just visited Beijing and came away with a broad-ranging deal to cooperate in a wide variety of energy projects, including plans for a pipeline and ports that would allow as much as one million barrels per day of oil from Alberta's tar sands to move to Canada's west coast for export to China. That's one-third of the oil that America has been hoping might in the future be available to it from Canada's tar sands. And, as always, there was more to the deal than a mere commercial transaction between consenting nations. According to their joint communiqué, the Strategic Working Group set up by Canada and China will not only broaden their energy relationship. In addition, in what can only be a shot at Washington, "Canada and China share the view that the United Nations and other multilateral institutions have an essential role to play in the development of a peaceful, prosperous and sustainable world." Little wonder that American officials have announced that they are "monitoring the talks," diplomatese for "sweating profusely."
In Latin America, China has made a series of oil deals that extend its influence, and must have James Monroe spinning in his grave. President Hu Jintao has agreed to invest $100 billion in Latin America in a variety of energy-related and other partnerships, as Latin American countries "try to lessen their trade dependence on the U.S.," according to reports in the Wall Street Journal. Most threatening is the arrangement made with Venezuelan president Hugo Chávez, a man with close ties to Fidel Castro and who claims his country is under "a new U.S. imperialist attack." China has agreed to invest over $400 million in Venezuela's oil and gas industry, and to buy 120,000 barrels of that country's fuel oil each month. Chávez had made it known that he plans to use the proceeds of his oil industry to fund sales of cheap oil to Castro, and he has not denied rumors that he plans to finance revolutionary groups in other Latin American countries....
"Bush will be only to eager to bend over."
You have experience in this area?
US to China: Don't meddle with our buddy, Taiwan.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.