Word: dubai
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...owning a TV station a greater threat to national security than managing a port? Let me make a fearless prediction here: the ports controversy will soon turn into an even greater battle over U.S. defense contracts going to foreign-owned companies, including-as the Washington Post reported last week-Dubai International Capital, which wants to buy a company that makes components for U.S. tanks and military aircraft. Lawrence Korb, a defense specialist at the Center for American Progress, estimates that foreign companies may receive as much as 20% of Pentagon contracts, sometimes in tandem with U.S. companies and sometimes dealing...
...rationale for-and the dilemma of-globalization. The Democrats have been deeply split between free traders and protectionists in the recent past, but they appear to be coming together now-and moving to the left. Bill Clinton was a free trader in the 1990s; Hillary Clinton opposed the Dubai Ports deal and voted against the Central American-Dominican Republic Free Trade Act in the 2000s. "I think we've pushed too far in the direction of unfettered markets," says Joseph Stiglitz, a Nobel-prizewinning economist who chaired Bill Clinton's Council of Economic Advisers. "Markets aren't perfect. They...
...There are dangers here for Democrats. There is the temptation of demagoguery. Foreigners are the fattest of targets-Dubai sheiks, robotic Chinese sweatshop workers, illegal immigrants from Mexico-and many Americans want to kiss them all goodbye. There is also the possibility of severe economic consequences if foreign-owned companies are suddenly made unwelcome in key sectors of the U.S. market. Asians and Arabs hold an awful lot of U.S. dollars, and if they can't spend them on property in the U.S., they will surely make their investments elsewhere, taking with them jobs and opportunities that would have come...
...taxes, which horrifies the economic-freedom crowd. They also don't address foreign ownership of U.S. assets. Still, if middle-class Americans began to feel a bit more secure about their own lives, they might be willing to look at the rest of the world-and controversies like the Dubai Ports deal-less emotionally...
...Right now there's so much happening in the Middle East that it's top of mind, it's not by accident," says Paris-based shoe designer Christian Louboutin, who recently returned from a tour of Riyadh and Dubai. Miuccia Prada, who showed her Miu Miu collection in Paris, at first resisted pegging her work this season as political. But she admitted that, for the first time, she felt the urge to "take more consciousness and more power for women." Her clothes--black anoraks and heavy shoes--reminded her of the more reactive '60s and '70s, she said...