If you read this blog reasonably often, you may be surprised at the title of this post. However, I think he's right in supporting the purchase of Peninsular & Oriental Steam Navigation Co. of London by Dubai Ports World. First of all, it's not as though all other ports in the US are controlled by US companies; few are. Nor is it the case that US companies have refrained from moving into just about all countries of the world where they can; in many countries we are major players in the local economy.
Our leaders got all hot and bothered about the attempt by CNOOC to buy Unocal and forced CNOOC to back off. That didn't exactly support our contentions re the global economy and free trade. The attempt to block Dubai not only flies in the face of our claims of freedom, but also allows our enemies to once more note that our actions do not support our words and further undermines any nascent belief on the part of Muslims that maybe we really don't hate them.
Our trade deficit last year was $725 billion and set another record. Who does the Senate think is funding this? It's foreign countries. At some point their investments will slow down unless we improve our economy and move this deficit down considerably. Rejecting Dubai now, as we rejected CNOOC, will only hasten the day of reckoning for us and our deficit.
Of course, the big claim is that terrorists will be more likely to attack us since the UAE was the home of one of the 9/11 conspirators and has seen terrorist money launderings and other shenanigans that happen in most economies when they move from a backwater to the forefront.
However, Dubai has changed somewhat and appears to be less of a terrorist haven. The real problem with terrorists attacking our ports is not that they are run by Dubai, it's the crappy security we have now; after all it's the government, not the owner, that has the responsibility to protect us. If the Senate were really serious about the risk of terrorism that is inherent in this deal, they would better fund the Coast Guard and they would demand that our Army and Navy cease using ports and bases in Dubai.
I know it's an election year and we'll see a lot of stupid things done in hopes that votes may be won. But if the senators and others have their isolationist say, this country will pay the price while they spend the retirement money we will have given them.
1 comment:
Al - I am in agreement with you on this one. Let's face it, if only by the law of averages, he has to get one right occasionally. My own feeling is that the American public won't be persuaded on this issue and if he continues to push it against public opinion it may result in his undoing. I posted on this myself only today.
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