The high-stakes play for the US-based energy group Unocal is a lesson for China’s CNOOC oil group. It showed that cash alone would not seal the deal, especially when there were questions about possible easy loans from its state-owned parent that go to the heart of the corporate governance and ethics debate. There were other considerations for Washington, but these blew into a political storm and clouded the debate.
This FT.com article (registration needed) looks at why Asia must look beyond profits to ethics in business dealings.
XCMG Machinery Releases ESG Report
August 14, 2024
