At the end of June, Kenneth Lewis, CEO of Bank of America, said that Chinese investment in the US should not be hampered. “I don’t think it can be a one-way street,” he argued.
He has a point. If US oil company Unocal accepts Chinese company CNOOC’s bid but US regulators reject it because of a perceived threat to US national security should strategically sensitive US oil assets fall into the hands of a state-run Chinese company, it will stink of hypocrisy.
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