Well, how weird is it that IBM was sold to the Chinese? I wonder how this figures into Apple's move?
"Earlier this year International Business Machines Corp. was sold to the Lenovo Group of China, a move which met with disapproval from Congress headed up by Rep. Henry Hyde (R-IL) Chairman of the International Relations Committee and Rep. Duncan Hunter (R-CA) Chairman of the Armed Services Committee. They jointly wrote a letter to Treasury Secretary calling for an investigation of the initial bid.
As a direct result, IBM sought out former National Security Advisor to both President Ford and President H.W. Bush, Brent Scowcroft, to help seal the deal. But in the Unocal deal, CNOOC CEO, Fu Chengyu, has engaged no less than three U.S. investment banks, four law firms, two media communications groups and some with direct connections to the White House. The investment banking firms presently on board are J.P Morgan Chase & Co. and Goldman Sachs Group Inc. To deal with political and policy hurdles CNOOC hired lobbying law firm, Akin, Gump, Strauss, Hauer & Feld, located in Dallas and well - connected to both Democrats and Republicans. The firm also represented Halliburton when Vice President Dick Cheney was Chairman. Media firm, Public Strategies, Inc., a public relations company out of Austin, TX, led President Bushs 2004 re-election media campaign, and its point person is Mark Palmer, former Enron Corp. communications director. The Brunswick Group which specializes in mergers and acquisitions will also oversee public affairs work. Federal Reserve Chairman Alan Greenspan and Treasury Secretary John Snow appeared before a Senate committee just days before the announced CNOOC bid, and made a comparison to Japans U.S. investments of the 1980s.
However, the current Chinese agenda is actually quite different. Japan remains an ally of the U.S., who depended on the U.S. to help defend herself with U.S. military bases throughout. Japan and was not a major competitor for rare resources or strategic assets which impact national security. In addition, China continues its practice of theft of American intellectual property primarily in the entertainment sector and patent violations with knockoffs of Dell computers and Nike clothing for example, costing the U.S. more the $30 billion dollars a year. Additionally the loss of U.S. manufacturing jobs to China, on behalf of U.S. corporations' desires to pay wages far below a U.S. living wage, continue to eat away what is left of the U.S. industrial base, leaving the U.S. with a ballooning trade deficit with China. It will ultimately be up to the Committee on Foreign Investment in the U.S. (CFIUS), an arm of the Treasury Department, which must scrutinize and review the CNOOC bid. Such has already been called for by several members of Congress, raising speculation as to how much of a surprise the bid was to lawmakers.
According to a 1988 law, CFIUS has the power to stop a foreign country from such a takeover if evidence is found that such will threaten national security and, that relevant laws do not have adequate authority in order to protect U.S. security. One such scenario could be the under-sea oil drilling or oil prospecting which might help Chinas nuclear testing capabilities. Most CFIUS reviews take about 30 days. The fear in Washington is that if the CNOOC bid is not accepted, that China would then become more closely allied with oil-producing Russia and Venezuela in addition to the rogue states of Iran and Sudan. U.S. interests also include protecting Taiwan as well as South Korea.
The larger the economy of China grows economically its military prowess likewise grows. The missing component in Chinas quest for global power is now related to the energy area. It is essential for China to acquire the energy resources it needs to gain superiority. The manufacturing and technology sectors having been largely outsourced and the ownership of Western firms have combined with a technological weaponry buildup to give China the ability to pursue that quest..."