Well according to the Financial Times it seems that a lot more folks tend to agree that the current protectionist/populist rhetoric being thrown around Washington about preventing foreign entities/companies from acquiring our ports (managerial aspect of it) or other "security sensitive" areas (See Rep. Sheila Jackson Lee's(D-TX) current legislation on ownership of ports and airports(She noted this aspect on Fox & Friends this morning (March 7, 2006) will be detrimental to the whole American economy. Take a gander at what the FT had to say:
Leaders of the transportation industry have warned that rising protectionist sentiment is posing a threat to the US economy and called for greater public education about the benefits of global commerce.I'm thinking the administration needs to step up and start an education process in the port deal and how foreign ownership of companies in the US is part of the globalized economy. For G-d's sake, let's not hand this process over to the 535 members of Congress or moving itbureaucraticueracratic madhouse at the Department of Homeland Security (should be focused on terrorists and not private enterprise.)
The comments, made at a conference in California, reflect fear that opposition to Dubai Ports World's takeover of five US port facilities could signal weakening public and political support for open markets.
Matthew Rose, chief executive of BNSF, the second-largest US railroad operator, condemned the "crazy" protectionist forces unleashed by DP World takeover controversy and warned of "profound" consequences if the deal was blocked.
"This country cannot become a protectionist island," he said. "Any protectionism would have an impact on our railroad but that would pale in comparison to the impact it would have on our country."
His remarks were echoed by many of the 1,100 maritime industry officials and their customers attending the annual Trans-Pacific Maritime Conference in Long Beach, home of one of America's largest ports.
1 comment:
Why is this proposed purchase of the terminals a problem?
1.The Bush administration has spent the time since 9/11 scaring the American public efery day. They di a good job and the chickens came home to roost.
2. The arrogance and secrecy of the WH prevented a reasonable discussion of the proposed agreement before it was announced and ready to be shoved down people's throats in a few days.
Scared people can react and over react if kept in the dark.
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