Anyone who observed Capitol Hill's assault on Dubai Ports World's (sub­sequently aborted) takeover of five US container terminals earlier this year will be hoping it was a one-off. That may prove optimistic. The sorry episode, which caused great damage to America's reputation among foreign investors, could well recur in the build up to mid-term elections in November. Given America's jittery mood, many lawmakers will be looking out for opportunities to convey their national security credentials to voters.

But there are also sane voices in Congress cautioning against any drastic change to how foreign investors are treated. This week, the House of Representatives is likely to vote on a measure that would reform the rules for evaluating foreign takeovers. Although it has minor flaws, it is far preferable to a rival Senate version sponsored by Bill Shelby. By enacting its bill quickly and by a large margin, the House could help dissuade the Senate from passing legislation that would deal the second body blow this year to America's reputation for economic openness.