For once in my life, I actually agree with the Bush administration's
stance on an issue. That I find myself agreeing with their logic (if not their diplomacy and politicking surrounding their decision) is perhaps less distressing than the fact that my agreement with their policy has caused me to double- and triple-check my reasoning. I suppose I should work toward not second-guessing myself simply because my politics happen to coincide with those of people who generally oppose my views.
Short form: If we are going to allow foreign companies to manage our ports, there is no legitimate reason that we should balk at Arab companies doing so. That said company is owned by a foreign government is perhaps distressing, but of the governments in the Middle East, the UAE is perhaps the most secular and highly developed at this point. If we are incapable of trusting their judgements (particularly when filtered through a subsidiary of a secularized company), then how could we conceivably enter into partnerships with any foreign governments?
I believe this to be a case of nationalized bigotry. I have serious doubts that it would have become nearly the big deal that it has become if the company had been owned by, say, Spain. Opponents of the merger note that funding for the 9/11 attacks went through Dubai. This is sort of like saying that "money went through New York banks." Dubai is sort of the financial center of the Arab world, folks. It's not at all surprising that funding for the attacks passed through there. Punishing a government who has been friendly to us in the past when we're trying to win the hearts and minds of the Arab world is rather counterproductive.