The U.S. rejection of the $18.5 billion bid by China’s top offshore oil company, CNOOC Ltd, for Unocal in 2005 was not a move worthy of a world power such as the United States, asserts a Chinese academic with the government’s top economic planning agency.
“If you are weak, then I can understand,” said Chen Dongqi, deputy director of the Academy of
Macro-Economic Research under the National Development and Reform Commission (NDRC).
“The United States is a strong country. What is it afraid of?” he said at the Reuters China Investment Summit.
“There is a problem there.” 
Chen was responding to a question about rising protectionism in China, and criticism that Beijing had blocked Coca-Cola Co from buying China’s Huiyuan Juice.
Chen also said that blaming China for global climate change was also off the mark, as climate is affected by hundreds of years of human activity, not just a few decades.
“China’s economy has been growing for only 30 years,” he said. “I don’t believe a few years of fast economic growth from one country is responsible for climate change.”
Photo caption: Chen Dongqi, vice-head of the macro-economic institute under the National Development and Reform Commission (NDRC), speaks during the Reuters China Investment Summit in Beijing. REUTERS/Christina Hu
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The West had its ways for 200 years. It will take time for the West to realize that it is no longer the only game in town. The West does not like the fact that someone else is moving into its territory and trying to change the rules of the game. Perhaps, the West will learn to play the new game. If not, it will come second best in a game for two or three.
- Posted by Ben GeeResponse to Ben Gee,,
It’s not a matter of being the only game in town,, it’s the betrayal of the American people by political and capitalist interests. Our government and businessmen make it easy for China to compete. Not a level playing field.
- Posted by RH Pyle