29 Sep '12, 4am

Obama blocks Chinese purchase of wind farms near Navy base:

A wind farm in rural Pennsylvania. Joe Gromelski/Stars and Stripes WASHINGTON (AP) -- Citing national security risks, President Barack Obama on Friday blocked a Chinese company from owning four wind farm projects in northern Oregon near a Navy base where the U.S. military flies unmanned drones and electronic-warfare planes on training missions. It was the first time in 22 years that a U.S. president has blocked such a foreign business deal. Obama's decision was likely to be another irritant in the increasingly tense economic relationship between the U.S. and China. It also comes against an election-year backdrop of intense criticism from Republican presidential challenger Mitt Romney, who accuses Obama of not being tough enough with China. In his decision, Obama ordered Ralls Corp., a company owned by Chinese nationals, to divest its interest in the wind farms it purchased...

Full article: http://www.stripes.com/news/us/obama-blocks-chinese-purch...

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Citing national security risks, President Barack Obama on Friday blocked a Chinese company from owning four wind farm proj...

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