Hamish McRae: “Globalisation is fine, unless it means Dubai”

A Dubai company seeks to buy a British one that happens to operate a string of ports in the US – much to the annoyance of some US congressmen. An international steel group headed by an Indian family seeks to buy a French/Luxembourg steel company, much to the chagrin of President Chirac. A Russian energy group is said to be trying to buy a British gas company, which would certainly cause the fur to fly here. Welcome to globalisation, 2006-style. [Independent]

Dan Drezner has a nice round-up of reasons not to worry about DPW’s buyout of P&O. The most important is that P&O doesn’t do security at ports.

UPDATE: Drezner has more cases of backlash against FDI.