What’s Wrong with this Picture – The Dubai Ports Deal and Global Markets

Well it’s good to be reminded that populist pandering is not dead and definitely not in the United States. A severe case of it was identified in the US Congress and spread rapidly to Republicans and Democrats alike in Washington and in the country over the question of DP World’s acquistion of port’s management for US terminals including some of the biggest – New York, Newark, Baltimore and Miami . The issue may well have been defanged for now by the decision of the Emir of Dubai to sell or transfer control to an American-owned entity.

The real question is – what is the critical question over the terminal lease acquisitions. There certainly is a security issue for US ports. But the fact that DP World was acquiring the leases was a red herring. The fragile security protection is Continue reading