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Thursday, March 15, 2007

China, Sun Tzu and Iraq's oil

“Opportunities multiply as they are seized.” Sun Tzu, Chinese author and military strategist, c. 544-496 BC

Bush and Cheney may be declaring “Mission Accomplished” now that the Iraqi Cabinet has approved the draft of an oil law granting foreign companies unprecedented access to the country’s fields.

But Beijing is having the last laugh.

Just last week, Chinese oil company officials arrived in Baghdad to revive Hussein-era contracts for developing Iraq’s oil, specifically, the Ahdab oil field in south-central Iraq. Hundreds of millions of dollars and a reduction in Iraq’s Chinese debt are already on the table.

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