Wednesday, August 22, 2007

Bought Out

The irony in this Herald Tribune article about fears of overseas funds buying up America, is undeniable. For a country that has played big brother pretty unabashedly for the longest time, it is naturally distressing to have other countries usurp that role. If not anything, the new order will take some getting used. The story reads quite a bit like a Michael Moore diatribe minus the histrionics. The scenarios being considered are :

...what would happen if China took over a U.S. pharmaceutical company and pressed for changes in prescription drug programs. Likewise, what would the reaction be if an Arab government demanded a bailout or tax break for its company in return for supporting peace talks in Iraq or Israel?'

You have to wonder if this "buyout" of America will generate the kind of backlash outsourcing of manufacturing and technology services jobs have. The only difference is the blame cannot be shifted to a nameless, faceless foreign workers in a third world country who work for really cheap because they do not aspire for a first world lifestyle.

Maybe the buyout has already taken place only the effects have not percolated down to where it becomes self evident even to the average person who depends on CNN and Fox News to tell them what is going on in their world and what they should be worried about.

No comments: