Henry Paulson announced that the governments of Singapore and Abu Dhabi have agreed to disavow political motives when buying U.S. companies.  Oh goody.  This must have been one of those Strategic Economic Dialogue® things Paulson does sometimes.  We are safe from Singapore and Abu Dhabi.  I would say "good start", except it's not.

Here's how the SED® has been going:

“The general impression I have is that there is an openness to discussing this,” said Clay Lowery, an assistant Treasury secretary for international affairs, referring to a best practices code. “Some funds think this is a really good idea. Some are saying, ‘Let’s do a little bit of wait-and-see.’ ”

The U.S. could have passed a  law saying that foreign governments can buy U.S. corporations in an amount equivalent to the U.S. government buying their countries' corporations.  This law would have applied to China too. 

In fact, let's do a test case Henry.  How about if the Treasury Department signs a deal to buy... oh, let's say... a major Chinese steel company.   Just 51%... not all of it.  See what happens.  You know, like Clay Lowery says... "Let's do a little bit of wait-and-see."  Then we'll apply their standards here, when they buy our companies.

Fair trade. 

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