I recently asked a 19 year old Chinese student I am tutoring for admission to a US university what he thought about the BP oil fiasco. His reply was brief and to the point. He said that if this happened off the Chinese coast that the government would first nationalize BP and seize their assets. Then they would jail all BP execs and they would exhaust every scientific resource the execs could think of to cap the well using the money confiscated from BP. He had no idea if this would solve the problem but at least the people of China would be happy with their government for taking action unlike his perception of the US government which he feels is doing little more than some heavy teeth gnashing.
If successful, the assets would be returned to BP and the execs released. If it didn't work, well, you can probably guess what he suggested.
Out of the mouth of babes..............