This is disturbing for bigger reasons: it means that 2 non-Chinese companies that would have yielded a more competitive production system to China, a country that wants to see the US (and EU to a lesser extent) experience economic collapse, have been prevented from uniting by China. I don't like the government control China has over their own businesses (total authoritarian control by government is the norm for any communist or far-left socialist government), but at least that's the Chinese government regulating Chinese companies.
This move with Intel has similar impacts to our national economic security as China blocking Lockheed from building the joint strike fighter or controlling local zoning laws in Newport News so that we couldn't expand our navy would have to our national military security. We can't allow China to have an influence over U.S. business in these areas.
That our government would just stand by and allow China to have this kind of control over U.S. business is unsettling to say the least. In fairness to the current administration, I suspect it's not entirely their fault: Intel probably caved to economic pressures from China too, because they want to continue to sell into that market. Otherwise, they could have proceeded with the acquisition, it just would not have been recognized as legal in China, potentially removing that market in whole or part from Intel.
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