Normally, I'd wait for the next News of the Day, but good and important news like this can't wait. The Communist-owned China National Offshore Oil Company "abandoned its rival bid for California-based oil and natural gas provider Unocal Corp." (Washington Post). The Communists' attempt to take over the American oil firm ran into trouble when rival bidder Chevron's offer was endorsed by Unocal's board of directors. The Communists could have thrown more money into their bid; in fact, they say they "would have done so but for the political environment in the U.S." By that, they probably mean this: fourth, seventh, and second items.
Keep in mind, no piece of legislation actually passed, no action was actually taken by the Administration. A few hearings in Congress, a bunch of editorials, and some blogs (OK, perhaps that's just an ego-stroking stretch) managed to scare of the Communists. That's how hypersensitive the Communists are right now. Rather than risk a political tangle that could last long enough for the anti-Communist right and the anti-Communist left to form a lasting alliance - and that is the one thing in the American political arena that scares Zhongnanhai more than anything else - they will pull back and let everything die down.
Now we can see how well pressure works in Canada, where the Communist-owned China Shipping Group is going after CP Limited Ships. Like Unocal, CP has other bidders, including France's CMA CGM. As observers of Canadian politics (and nearly all Canadian readers of this blog) know, Canada's government is more malleable to the Communists than America's. However, the opposition in the Great White North has quietly become the most anti-Communist party in the democratic world. With enough pressure from either side of the 49th parallel, Communist China will face a choice. Do they go ahead and had the opposition an issue (selling off of Canadian firms to a hostile foreign power) that could very well do what nothing else seems to have done: namely, get them elected to government? Or do we back off, save our buddies in Ottowa the headache, and try again when no one is watching?
Now, I've been waiting for an election in any democratic nation where Communist China is the top issue (or at least one of them) for years, and Canada is the best shot we have for that. Still, at the very least, the Unocal victory tells us that the Communists can indeed by stopped. There's no reason not to try to stop them again.