China Zeros in on Canadian Oil, but It's Not About Sovereignty
China’s
$15.1 billion bid to acquire Canada’s Nexen oil company threatens to
turn China into a owner rather just a major buyer of Canadian oil, and
prompts a surge in nationalist rhetoric that is attempting, misguidedly,
to bring up the question of sovereignty.China knows that nationalism
and ideology will play a major role in whether the Nexen purchase goes
through. As such, China’s CNOOC is offering Canada a very attractive
deal, to wit, a 61% all-cash premium for Nexen.For the same reason,
CNOOC is offering to establish a headquarters…Read more...
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