C O C A - C O L A , H U I Y UA N J U I C E , A N D C N O O C 37 China those rules meant that Coca-Cola would have to invest in its own plants and grow organically. Jordan maintained that the rejected takeover bid would not slow Coca-Cola's efforts to expand in China. "It did not in any way break our determination to proceed in China one way or the other," he said. Coca-Cola had already opened a $90 million innovation lab in Shanghai in 2009. In late October 2010, Kent, on a trip to Inner Mongolia, announced that Coca-Cola would spend $240 million to build three new bottling plants as part of the previously announced $2 billion expansion plan, which would effectively double Coca- Cola's investment in China to $4 billion. Coke is about people, Kent told reporters on the trip, and China had more people than any- where else. Kent suggested that sales of Coca-Cola in China could eventually even surpass those in the United States. CNOOC and Unocal While the failed Huiyuan deal highlighted the readiness of China's government to step in and prevent what it considered to be a for- eign takeover of an important domestic asset, the case of China's National Offshore Oil Corporation (CNOOC)'s failed attempt to buy a troubled U.S. oil company, Unocal, showed that where energy is concerned, the United States could be just as protectionist. AMERICANS FEEL PROTECTIONIST ABOUT OIL, EVEN WHEN MUCH OF IT IS IN ASIA In late 2004, Fu Chengyu, president of CNOOC, made an $18.5 billion bid to buy Unocal, a faltering U.S. petroleum company, whose owners were only too happy to sell. Before the deal could be completed, it sparked an unprecedented political firestorm that resulted in a Republican congressman, Joe Barton of Texas--the head of the House Energy Committee--writing a letter to then President George W. Bush, warning that the U.S. economy was American Management Association / www.amanet.org