Oil deal reveals China’s new role

By the time it was resolved Tuesday, the battle to buy Unocal Corp. had become more than a takeover tussle pitting Chevron Corp., the second-largest U.S. oil company, against CNOOC Ltd., China’s third-largest oil concern.
   The showdown also underscored the stewing tensions between the United States and China, a pair of international powers, countries whose fortunes are becoming increasingly intertwined despite their vast cultural, economic and governmental differences.