End of CNOOC bid won't end Sino-US tensions

[dArKeR]

Many economists feel the political reaction to the Chinese firm's Unocol bid was out of proportion - and may just have been an excuse to vent grudges over China's growing clout
By Edmund Andrews
NY TIMES NEWS SERVICE , WASHINGTON

The board of China National Offshore Oil Corp (CNOOC) had one thing right: Its bid to buy a US oil company was killed by political opposition.
Lawmakers in Congress, with tacit support from the Bush administration, managed to raise enough objections to CNOOC's bid for Unocal to make most investors doubt that the deal would ever pass muster in Washington.

But now that CNOOC has decided to abandon its bid, policy analysts and lawmakers said, the tensions between the US and China that it reflected are not expected to diminish. Indeed, they may well intensify in the months ahead.

http://www.taipeitimes.com/News/editorials/archives/2005/08/05/2003266521