US Critics See Security Threat in China Oil Bid

China’s bid to buy U.S. oil producer Unocal was part of a calculated challenge to America’s global power and could damage U.S. interests in Asia, American critics of the offer told the first congressional hearing into the deal on Wednesday.

“I believe the PRC’s aim is inexorably to supplant the United States as the world’s premier economic power and, if necessary, to defeat us militarily,” said Frank Gaffney, a Pentagon strategist under the late President Ronald Reagan.
Reuters