I am watching with some amusement the current political storm over the sale of P&O's port operations to DP World. PSA, the government of Singapore port authority was the other bidder for P&O, so there has been quite a bit of coverage here during the bidding war.
Does nobody in the US realize the ports in question were already owned by a foreign government? The comment by the House speaker that America will never permit its ports to be owned by a foreign government is just ignorant.
The tortured dance performed by politicians who lecture others on free trade and open markets while voting for trade barriers and racist protectionist legislation would be funny if it were not so hypocritical and sad.
Saturday, March 11, 2006
Any port in a storm
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