Follow up on the Dubai based DP World’s attempted American ports purchase
A quick note in follow up to the xenophobic, fear mongering reactions that forced Dubai Ports World to restructure a deal with British firm P&O that would have included the purchase of some American ports operations. One might recall the hysteria of a few weeks back. Today’s note came out of an article in The Economist of May 6th, 2006. The Economist quotes MIT economist Kristin Forbes saying the sense from many in Congress is that they over-reacted. The Clarion’s response is obviously, but then, the obvious rarely moves an American Congressperson or Senator. However, post the ports deal, recognizing their overreaction, neither House of the Congress opposed Dubai International Capital acquiring Doncasters Group, quoting The Economist, “a maker of precision-engineered parts, for American tanks and military aircraft.”
Ironic? Having never supported the scuppering of the Dubai Ports deal, the Clarion certainly wasn’t wishing for Congress to get involved in this one. We just wanted to wave the signal flag and point out the lunacy, the hypocrisy, the power of hype and the media around the respective moments. The reasons why one was blocked, and not the other, abound. Don’t know them all, but just wanted to holler, “Lookee hear.”
Our thanks to the phenomenal staff writers at The Economist who made the Clarion aware of this issue.