The acquisition by Dubai Ports World of the distinguished Peninsular and Oriental Steam Navigation Company (P&O) is all over, bar the shouting. And what shouting, indeed, is coming from certain Americans who should know better. The objections that have been raised by politicians of both political persuasions are primarily focused on their fear of adequate security, following the 9/11 attacks. That such fears are ungrounded seems to have escaped the notice of the opponents to the purchase; DP World is behaving in the same way as any other international company in taking on management control: it will doubtless seek to improve its investment in many ways. But DP World will not be responsible for the ports security although even there, if it were, Americans would still have nothing to fear, as the security record for the ports under the control of DP World is second to none.
If it is not security, as claimed, what is it?
It is a number of factors, with politicians and public joining the opposition for any or all of them. First, it must be realised that Americans, in general, are protectionist by nature. They abhor the idea of their "cherished institutions" being in the hands of "foreigners" of any persuasion. It will be recalled the furore that was created when Japan first started investing in American industry and real estate, and the efforts made by some politicians to curtail Japan.
But there is also a domestic issue at stake. With impending elections later this year, both Democrats and Republicans are trying to take the high ground on the issue of homeland security, something the Democrats lost so much support on in the last election.
So an ignorant mix of anti-Arab sentiment, anti any foreigner feeling, terrorist panic and domestic point scoring are creating some very misguided objections.
