Dubai Ports World Scuttles Deal to Administer Ports

From Reuters:

WASHINGTON (Reuters) - The state-owned Arab company Dubai Ports World pledged on Thursday to transfer operation of six U.S. port terminals to a U.S. entity, a move the White House said should settle a political firestorm surrounding the deal. But the U.S. Congress was sceptical.

Now that the spectacle of demagoguery and ignorance appears to be over, tomorrow about 5% of incoming cargoes will be inspected.

As usual.