Spiga

China's Unocal bid is hardly the first economic invasion

On Feb. 7, 1964, Britain launched an economic invasion of the United States.

Mop-top rock 'n' rollers the Beatles landed in New York City, their lucrative visit soon followed by the Rolling Stones, Animals and others.

In the 1980s, the Japanese economic boom shook U.S. business.

That trading nation saw the U.S. as the land of opportunity. Sales of consumer electronics and automobiles and the purchase of U.S. real estate were primary interests. Worried U.S. firms adopted Japanese concepts such as quality circles.

On June 23, China's government-owned China National Offshore Oil Co. bid $18.5 billion to purchase oil giant Unocal Corp., taking on the U.S. at its own financial game.

U.S. business and investors will fare just fine. Like Brits and Japanese before them, the Chinese are intelligent, logical rivals. Seeing U.S. opportunities, they can't be content to simply host McDonald's ribbon-cutting ceremonies forever.

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