Islamophobia?

In spite of ample reading and debate, Polimom hasn’t been able to find a position to take on the UAE / DP ports issue – primarily because I can see all sides of the issue (and there are many).
Starling Hunter at America’s Business is Business has posted a nice summary of the blogosphere’s reasons for being up in arms about the proposed takeover by Dubai Ports World (DPW). In all honesty, I don’t have nearly enough information to dispute the bloggers he has rounded up. However, voices like Michelle Malkin and Captain Ed are at decibel ten with outrage.
Maybe they’re right.
Are their arguments rational, though? Because I’m also concerned that America is over-reacting to a now-internalized but unvoiced fear about Islam. Can anybody think of a single Islamic country that would not have fallen prey to the heated coverage and debate surrounding the proposed DP ports deal?
How about Jordan? Maybe Egypt?
What if we think outside of the MidEast? Would Indonesia be okay instead of Dubai?
Polimom’s thinking none of these would survive the current American mood, either. Am I wrong?