Whatever the final outcome of the contest between Chevron and CNOOC for Unocal, there are important lessons that can be gleaned from this episode. Indeed, it is a portent of future challenges to U.S. and other developed-country policymakers as they attempt to deal with the emergence of China as a...

The CNOOC episode is a relatively minor affair, but there is a risk that much more damage will be done in the future.

Certainly, Congress is right to stop certain sales. But Unocal? How pathetic, childish and cowardly! This is not the behavior of a courageous nation founded onfreedom.

Shouldwe worry that Chinese want to buy one of our energy companies? Absolutely not. What we should worry about is the intervention of politicians into areas that are none of their business.

The sale of Unocal is not just about dollars and cents.

China riding to Europe's rescue assumes a narrative in which China's mercantilist approach has allowed it to take a leading role in world affairs. In fact, it illustrates the pitfalls to the Chinese way of doing business.

If we decide to deny firms from developing nations--Arab, Asian, or otherwise--from investing in the United States, those firms will go elsewhere.

Whether we like it or not, in a globally interconnected economy, America's prosperity depends on the willingness of foreigners to invest here.