Asian Reaction to Unocal Bid Is Muted

China’s pending bid for Unocal, a California-based oil company, has profound implications for several Southeast Asian countries, where about half of Unocal’s assets are located. And yet these countries – Vietnam, Indonesia, Thailand and Myanmar – appear less concerned about the possible transfer of power from the US to China than most American policy-makers are. Part of this lackadaisical attitude is because of the US’ rather questionable record of political involvement in the region. But equally important for some of the Unocal bases, especially Thailand, are the presence of strong partnership with China and a desire to have closer ties to that country. In any case, the Unocal deal is generating far more interest and concern in American boardrooms than it is in Southeast Asian oil fields. – YaleGlobal