The political chattering classes  

allgoodhndlstakn 59M
11 posts
3/8/2006 9:45 pm

Last Read:
3/8/2006 9:52 pm

The political chattering classes

It's interesting to watch the political class wring their hands over the recent purchase of Peninsular & Oriental Steam Navigation (P&O ) by Dubai Ports World (DPW). If ever there was a case of ethnic or racial profiling on a global scale, this is it. Political opportunists of every stripe and texture are rabid in their denunciations of this pernicious "breach" of American security. What a laugh. Will we next be banning Arab-Americans from owning car dealerships out of fear that they will subsequently turn those dealerships into fleets of car bombs? Whooo weeee!! Make no mistake, this isn't about American security. This is about political posturing on a massive scale.

Oh, don't get me wrong. At first blush one can look at this transaction and wonder about its wisdom and risk; Arab governments buying American ports and unloading who knows what for who knows who, who knows when. Gotta be wrong. Right? Right!

Wrong! Arabs are not buying American ports any more than Japan was buying NY when a Japanese company bid and purchased Rockefeller Center. Dubai Ports World is buying P&O, a company, not an entire port, which already leases dock space at 6 American ports along with numerous other companies. Furthermore, P&O is not an American company to begin with. It's British. So don't make the mistake that this is a question of America turning over its sovereignty to foreigners. It's not. It's also not about foreign government controlled companies running things either, else why would we soundlessly allow communist Chinese companies to operate and manage facilities at several west coast ports without similar displays of hand wringing and flagellation.

Continued ...

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