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Germany’s Scholz overruled Habeck to approve China port deal
In May 2023 Germany's Scholz overruled Habeck to let sale of 24.9% of Hamburg port to COSCO go through.
Here is how over 2000-2016 China build its world class network of containerized shipping ports while the second Bush added the war in Afghanistan to the wars in Iraq started by Reagan/Bush. Without defense costs China built this world ports network.
Piraeus in Greece, south of Athens, a port concession acquired in 2004
Antwerp in Belgium (Austrian Netherlands), a minority stake in a container port acquired in 2008. In 2013 with sale of Terminal Link ports in a Cosco 49% stake deal by CMA of France CMA holding 51%, China has stakes in Zeerbrugge and Antwerp, Busan South Korea, and Le Havre, Montoir and Fos in France, Xiamen in China, Miami and Houston in US.
Rotterdam, Netherlands- Cosco acquired in 2016 a 35% stake in Euromax Terminal in Rotterdam from Hong Kong's Hutchison's Holdings for $125 million.
Valencia and Bilbao majority 51% stake for $270 million, when JP Morgan paid as much as $950 million to ACS of Spain for these ports after the 2009 crisis led to Spanish divestments. Today measured in TEU shipping containers China sends goods to Europe 10 times what it takes in through Spanish ports.
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