Lots of Talk About China

Today's Wall Street Journal has several articles regarding Cnooc's bid for Unocal. The WSJ's editorial page is pretty much backing the deal - or at least the Cnooc's right to bid. David Jackson's China Stock Blog references an article in Barron's that says the deal probably will not go through.

This is a HUGE deal, folks. The implications of this are huge. I would feel much better about the deal if Cnooc wasn't 70% owned by the Chinese government. Let's say the deal does go through. What's to stop the Chinese government from withholding the oil from the US or, simply using it in China? In the long-run, this is going to be the issue.

I was in Barnes & Noble yesterday and noticed that both Time and US News & World Report dedicated recent issues to the topic of China. Here's some links to US News' China articles:

• China seeks to reclaim glory of its past


• A communist economic juggernaut emerges to challenge the west


• China's urban middle class has a lifestyle that looks familiar


• China's floating people


• The Shanghai high life


• What to do about China by Richard N. Haass


• China chat: The Levin Institute hosts a live audio conference on June 20 to address your inquiries about China.

I'm curious as to what you think about this. Please feel free to leave a comment.

Tags: Cnooc, Cnooc Ltd., China