[FoRK] Sleeping With The Enemy...

Robert Harley robert.harley
Mon Jun 27 15:50:20 PDT 2005


Krugman:
>If it were up to me, I'd block the Chinese bid for Unocal.

Idiot.

A big chunk of Unocal's value is their contracts to exploit S.E. Asian
fields.  If C-nooc were to play the game the merkun way, as opposed to
the free market way, they'd get their pols to bring pressure on local
guvmints to fail to renew said contracts, cancel them on some flimsy
technicalities or whatever.  Hands up who thinks China's 100's of B$
are going to sit idly in a database somewhere???  Methinks reactions
to the Unocal bid will be very interesting, in a damned-if-you-do,
damned-if-you-don't kind of way.

R



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