President George W. Bush has declined to take a stand on the issue, saying he will await the CFIUS review process. http://today.reuters.com/business/newsarticle.aspx?type=tnBusinessNews&storyID=nN13639287&imageid=&cap= WASHINGTON, July 13 (Reuters) - China's bid to buy U.S. oil producer Unocal was part of a calculated challenge to America's global power and could damage U.S. interests in Asia, American critics of the offer told the first congressional hearing into the deal on Wednesday. "I believe the PRC's aim is inexorably to supplant the United States as the world's premier economic power and, if necessary, to defeat us militarily," said Frank Gaffney, a Pentagon strategist under the late President Ronald Reagan. Gaffney, a frequent China critic, was one of four witnesses who testified at a hearing of the U.S. House of Representatives Armed Services Committee that was dominated by criticism of state-run CNOOC Ltd's (0883.HK: Quote, Profile, Research) (CEO.N: Quote, Profile, Research) $18.5 billion bid for Unocal (UCL.N: Quote, Profile, Research). Is bush appeasing the Chinese to get them to do very little about North Korea.imho I think bush would sell his own mother to Quaker Oats if he could make a buck.