China's interest in working with other nations with interests counter to those of the U.S. is briefly discussed in this 2004 article by by William R. Hawkins of the International Assessment and Strategy Center.
Considering his earlier post regarding Mr. Bill Gertz's point about Chinese oil supply vulnerability, The Colonel recalls the furor some years back about Chinese companies positioning themselves at both ends of the Panama Canal.
If China is disadvantaged by the vulnerability of her oil supply, she can certainly delay U.S. naval movements to the Pacific by closing the Panama Canal and sending her submarines to the relatively narrow passages around the southern tips of S. American and Africa.
How short-sighted does it look now -- our turning the canal back to Panama and yawning at the Chinese presence there?
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