First Maytag, Next Unocal

Another American corporation in Chinese sights:

CNOOC Ltd., China’s largest offshore oil producer, has offered to buy Unocal Corp. for $18.5 billion, in a bid to trump Chevron Corp.’s $16.4 billion deal to acquire the smaller U.S. oil producer.

This is the result of granting China Most Favored Nation status (thanks, Bill), slave labor, and China’s artificially low currency. And our insatiable demand for cheap shoes and clothing.

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