On the National Security front...
The Chinese National Offshore Oil Corporation's bid for oil giant Unocal is attracting plenty of attention this week, with questions raging over the wisdom of placing U.S. energy concerns in the hands of Red China, which is eager to augment its military might with monetary power.
The House Armed Services Committee took testimony about the dangers of CNOOC taking over Unocal and its energy resources and development capabilities. "This is a national-security issue," said former CIA Director James Woolsey, in testimony before the committee. "China is pursuing a national strategy of domination of the energy markets and strategic dominance of the western Pacific."
Remember this is the country that just threatened to use nukes on the U.S. if we interfere in the Taiwan situation. This is, indeed, a national security issue.
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