R: Nagin is courting the Chinese
Source: Reuters
New Orleans may enlist Chinese companies to participate in its multibillion-dollar recovery effort and has held talks with Shanghai Construction Co, the city's mayor said on Friday.
"We really had serious discussions with Shanghai Construction Company. They have been in New Orleans looking at opportunities," Ray Nagin told Reuters in an interview in Shanghai. He gave no details of the discussions.
Nagin said his city also welcomed outside investors in a $1 billion expansion of its port, the eighth-largest in the United States, but had not talked to any Chinese port operators that might be interested in the project.
The US government restricts foreign investment in key ports for security concerns. It forced Dubai's DP World to give up control of six US port terminals it acquired with its 2006 purchase of British port operator P&O.
"The future is going to play itself out," said Nagin, who was in Shanghai to tour a major port on the outskirts of the city. "I think over time you are probably going to see some loosening up of the restrictions."
Not to be all nativist or anything, but am I the only who wonders if China is taking over the world?
