In a move that stunned both Democrats and Republicans, the Bush administration has thrown its support behind the sale of Peninsular and Oriental Steam Navigation Co, a London based firm that runs 6 shipping container port operations in the United States, to Dubai Ports World. The proposed transaction would affect commercial U.S. port operations in New York, New Jersey, Baltimore, New Orleans, Miami and Philadelphia.
In the wake of 9/11, the Bush administration has considered the UAE, the home country of Dubai Ports World, as an ally in the “War on Terror”. But despite this official classification, many Americans, lawmakers and citizens alike are outraged with this decision. Are they justified in their questioning of this move? Well, let’s see.
The Jamestown Foundation notes
“One of the most active offshore zones is Dubai, of the United Arab Emirates. The former Taliban regime's diplomatic ties with the UAE likely helped facilitate Afghan-based terrorists in conducting financial deals through Dubai companies. It is believed that huge amounts of criminal income, including some of drug dealers, are also laundered in Dubai. While officially denying this charge, the UAE has begun to impose more rigid conditions on the activities of its national banks. After September 2001, illegal financial operations became punishable by lengthy prison terms and sizable monetary fines.”Continue reading at
http://pleonexiabeyondhubris.blogspot.com/