China continues to buy us

I'm no economist, but the insidious movement of control of our economy from within our borders across the Pacific to China seems like the threat to our future that we need to be concerned about. Yet, it is rarely discussed by our political leaders. Why is that I wonder? Common sense makes me think that most of them must be profiting from the movement in one way or another.

I read headlines today (and scanned the article briefly) in the NYT about an unsolicited offer from a large state owned Chinese country to buy Unicol (I think it was Unicol). The article went on to detail many such deals just in recent weeks.

We have already made the corporate decision to ship most of our jobs to China, continuing to create greater class divisions in our country, (thank you very much Wal Mart), and it now seems that ownership of the companies will creep across the ocean. This one I don't understand. Shipping jobs made sense to me because this allows the corporation to make a higher margin, (damn the effect on the American economy), but how does shifting ownership make sense?

China is a communist country, and they are eating our lunch. So much for the old "war on communism". Does this indicate that communism competes effectively with capitalism in an open market? Or does it mean that if capitalism is left unfettered, (which seems to be the direction that we continue to move), it is vulnerable to destruction from within as a result of the virus called greed?