From the CFR launch page....
New security-concerns amidst international M&A activity:
UAE Port Purchase Raises Fears - Council on Foreign Relations: "This precarious situation has been highlighted again by the acquisition by Dubai Ports World--a major United Arab Emirates-based shipping and cargo concern--of the British firm that has been running portions of six major U.S. ports (BaltSun). In effect, parts of the ports of New York, Miami, Newark-Port Elizabeth, Philadelphia, New Orleans, and Baltimore are now Dubai Ports' hands."
I find this interesting in light of:
1) Previous occurences with companies like Hutchinson Wampoa's (Hong Kong/China) acquisition of a) ports and b) Global Crossing
2) CNOOC-UNOCAL
3) The ever increasing credit culture of the US as we as individuals, as a government, and as a society artificially inflate our quality of life by borrowing and selling off or outsourcing our assets. A bunch of tangentially related ideas I'm loosely connecting there....
What raises the American government's hackles? And what do we quietly let slide by? How does this mesh with the particular sensitivities of the average citizenry? The CFR blurb is exceptionally well-linked to current discussions on the internet. Is ownership a true threat? Or is it just like Japanese acquisitions of key "pride assets" in the 1980s (Rockefeller Center comes to mind). I lean more towards what seems to be the conclusion of this piece--the real issue is coast guard security and patrols, not ownership.
3 months ago
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