Should Wall Street Have Sold Unocal to China ?


This article “China Bid for Unocal at Wall Streets“, was written by an author named Edmund L. Andrews. Edmund L. Andrews writes about the problem between China and the United State’s Wall Street. The author mentions that China’s trying to bid for Unocal and whether Wall Street should should sold let the China have it. The author introduces China National Offshore Oil Corp (CNOOC) which bid for Unocal, and whether Wall Street should let China have it or not. This year the Chinese Company has been involved with the highest-profile bid in the United States. Washington is trying to convince China to do business with them. Because of the China bid for Unocal, it causes firestorm among politician that worry about the fact that CNOOC could threaten the US government. Wall Street should agree to the bid with China and can avoid the misunderstanding between the two countries. The author wrote that Wall Street should let China buy Unocal.

I agree with the author that Wall Street should let China buy Unocal. If China bought the Unocal, China and the United States will have a better relationship and will be more peaceful together and could avoid a war between these two countries. With China National Offshore Oil Corporation (CNOOC), Americans will get help from China in the oil business. In this case there will be much more oil in America with the help from CNOOC. With CNOOC at the side of the US Oil and Gas Company, the oil company in the United States will not lack oil because of a backup from CNOOC. Probably the price of the oil at the US will go down and be much cheaper than today. Because of the tragedy of Hurricane Katrina, nowadays the oil price has risen to an expensive amount. Most of the citizen of the US are unhappy with this action that the decision that the oil company has made. Because some of the people in the US have salary just enough to raise their family. Maybe with the China National Offshore Oil and Gas Corporation joining the side of the US oil company, probably in the next few years the price of the oil will reduce to a suitable price and the people of the US will be satisfy with the decision.

The economy of the United States will be much higher because of the other country that are doing business in the land of the United States will have to pay the US every year. In this case, the American will always have income of money every year. The United States can avoid lack of oil with the help from China.

In conclusion, Wall Street should approve China’s bid for the Unocal. With the right decision that Wall Street going to give, the country of United States will have more positive sides to the US company business.

Reference:
Andrews Edmund L. (2005, Aug, 2). China bid for Unocal. The New York Times.
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