US ports controversy - This isn't racist? Just checking

This goes back quite a ways, but I'm so far behind that I'm just now getting to it.

Remember the brouhaha about the sale of Peninsular and Oriental Steam Navigation Co., the company that currently manages port operations in several major US seaports, including NY, Miami, New Orleans, and Baltimore, to Dubai Ports World, a port management firm owned by the government of United Arab Emirates?

The thinking is (at least as far as I can tell) there will be an increased threat of terrorism at these ports because they are managed by an Arab nation.

This sounds like it might be a bit discriminatory to me. So, I apply my usual test, substitute "Jew" for the nationality/ethnicity/religion/sexual preference in question, and come up with "There will be an increased threat of terrorism at these ports because they are managed by a Jewish company."

Um, wait a second. I want to know a bit more about this.

Are the UAE linked to any known terrorist groups? Not that we know of.

Are their streets full of malcontents burning effigies of Uncle Sam and shouting "Death to America" every Friday afternoon? No.

Have the UAE let us base troops and aircraft on their soil before without raising a ruckus? Yep, since the first Gulf War.

These are obviously very cursory, high-level questions which don't get into the details. However, even if you do get into the details, you find the UAE have been pretty staunch allies for the past 15 years or so. They are shrewd businessmen (which is what Arabs really SHOULD be known for, rather than blowing stuff up)

Bush, whom I must restate I am no fan of lately, is trying to do something positive here. He's trying to engage with a stable Arab government and reward them for being American pals. This seems to me to be a heck of a lot more effective (and cheaper and less controversial) than sending in the Armored Cav.

But that's just me. I could be wrong.

Of course, the upshot of all of this is the transaction has taken place, Dubai Ports has bought P&O Steam Navigation, but Dubai Ports is promising to sell of it's US operations within six months. Who won here?