When countries like Qatar, UAE, Dubai, etc, diversify their investments in this fashion, it is another sign that we have reached 'peak oil' production. That's what this is about.
It is a cause for concern only insofar as the US needs to be concerned about its dependence on oil at a time when it is only going to get more expensive.
The political concern of investment/equity ownership by these countries is negligible. More of a source of concern is the fact that the People's Republic of China holds over $1.2 trillion in US debt instruments, of which about $420.2 billion are U.S. Treasury securities. If China dumped a large fraction of this debt abruptly on the world market, it would cause the value of US debt to plummet and wreak havoc with our government's ability to fund activities in the national interest. In effect, our government is already a hostage to China.
I realize that China is not a Muslim country and that the Chinese and don't speak Spanish, but anyone seriously concerned about foriegn investment should be more concerned about China's control of US debt than about a few tiny middle eastern kingdoms with no armies to speak of.
Interesting stuff, ORHS.
I'm not educated enough to fully engage in a conversation on this subject, which is really why I put it out there. But, from my simple view of the matter, here it goes:
Given their population, military, and the fact that they are a communist country, I've always wondered why China wasn't more widely viewed as a potential threat. Maybe the media doesn't see it that way, or, maybe most folks are like me and don't see that there is much we can do about it. I also have to scratch my head over the whole recall issue. Given the post 9-11 world we are living in, is it too far of a stretch to think there might be something intentional to it all?
It is a cause for concern only insofar as the US needs to be concerned about its dependence on oil at a time when it is only going to get more expensive.
I'm a visual person, and when I see what this little ole' oil country is building, I'm thinking the money factor involved could negate the fact that they don't have a military. If they have enough money to create something like Palm Islands (from where there were no islands before) or build an indoor ski resort, buying an army doesn't seem all that impossible.
Trina, I doubt there is anything nefarious behind the product recalls from China, at least in terms of a backdoor attack on your health or safety. What's going on here is like what went on regularly in the 19th and early 20th century US--capitalism without sufficient regulation.
" . . . buying an army doesn't seem all that impossible."
Buying an army that can stand up to the world's only superpower would cost a lot.
In a sense, though, the Saudis have done this already. They have the Bush Administration, and thus the US military, in their pocket. You read all the time in the US press about the Bush Administrations claims of Iran's role in Iraq, but you don't read much about the fact that far more Saudis are in Iraqi jails for terrorist activities, or the role of Saudi Arabia in bankrolling Sunni militias. Money may not buy a big army, but it can buy a lot of silence and misdirection.
Trina, I doubt there is anything nefarious behind the product recalls from China, at least in terms of a backdoor attack on your health or safety.
Probably not, but more diabolical things have been known to happen.
Money may not buy a big army, but it can buy a lot of silence and misdirection.
Precisely. And given America's insatiable appetite for all things a la Cribs, Robin Leach, Bling Bling, they certainly are setting up some tempting (and distracting) playgrounds.
"And given America's insatiable appetite for all things a la Cribs, Robin Leach, Bling Bling, they certainly are setting up some tempting (and distracting) playgrounds."
I don't know about you, but these seem a little above my pay grade. I doubt I'll succumb to such temptations or distractions.