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Romney’s China holdings criticised..

I told you so!!! We need to see the rest of the tax returns. Please read on.

Mitt Romney’s trust invested in Cnooc at a time when the US was growing concerned about the Chinese oil company’s multibillion-dollar dealings with TEHRAN, according to the 2011 tax return released by the Republican nominee for president.

The Chinese investment by Mr Romney’s blind trust prompted accusations of hypocrisy from the Obama campaign on Monday, given Mr Romney’s criticism of Barack Obama for not being tough enough on Chinese “cheaters”.

“As he rolls his bus through many Ohio towns that are benefiting from [Obama’s] actions to . . . protect American workers from unfair Chinese trade practices, Mitt Romney will, as they say, have some explaining to do,” said an Obama campaign spokesman.

But Mr Romney’s investment in Cnooc also raises questions about his tough stance against Iran and is further evidence of how the former Bain Capital chief executive’s vast global share holdings have posed a challenge to his bid for the White House.

Last month, Cnooc Limited’s chairman, Wang Yilin, said in a speech that the company’s large-scale deep water rights were a “mobile national territory and a strategic weapon”, a description that highlights the political sensitivity surrounding the company.

http://www.ft.com/cms/s/0/ee7de4d2-06...