The Economist - One threat to American firms from China is all washed up:
"THE onset of takeover bids from China has rattled American businessmen and politicians, fearful of a communist state grown rich on trade surpluses with America. After Lenovo's acquisition of IBM's personal-computer business in December, the focus has shifted to Unocal, an oil company. China's CNOOC has offered $18.5 billion, topping a $17 billion bid from America's Chevron (which has nonetheless won the backing of Unocal's board). In the shadow of Unocal a much smaller but equally fierce struggle has been taking place, for Maytag, a maker of household appliances whose brands—including Hoover in America—have a sentimental place in American life. And here, against expectations, a Chinese bid has been rebuffed."
