Idiot Protectionists

While I am hesitant to agree with much that the Bush administration does, I do believe that the opposition in Congress to DP (Dubai Ports) World's purchase of P&O is wrong-headed. First, the members of Congress have said the ports would be owned by "terrorists", a ridiculously racist charge. Besides the racist aspect, the ports would only be run by the company, continuing the concessionary leases held by P&O Co. As the Financial Times "Lex Column" points out:

The US should be careful about singling out Arab and Chinese [the CFIUS rejected CNOOC's bid to buy Unocal last summer] investors, who happen to be amongh the most likely sources of funding. Moreover, any new laws should not affect already approved deals. Constitutional niceties aside, that would leave the US looking like a third world country that can force foreigners to divest assets at will.

According to sources used by the NY Times, the Coast Guard and the United States customs authorities, not the terminal operators, are responsible for checking incoming cargo, passengers and crews as well as for planning and maintaining port security. This seems to contradict all the hoopla about security. If the security is not good enough at ports, maybe we should look towards the government of the United State, not Dubai or the UAE.