Greek Prime Minister Kyriakos Mitsotakis (not pictured) and German Chancellor Olaf Scholz hold a news conference at the Maximos Mansion in Athens, Greece October 27, 2022. REUTERS/Louiza Vradi
Olaf Scholz Suggests Europe Should ‘Diversify’ By Selling More Ports To China
by Andreas Rinke (Reuters) German Chancellor Olaf Scholz on Thursday stressed the need for Europe to diversify its relations to ensure it is not dependent on any one nation, a day after he pushed through a decision to let a Chinese firm invest in a terminal at the country’s largest port.
Businesses must ensure that they have multiple supply chains to obtain their goods and that their investments are not concentrated on just one country, added Scholz in a joint news conference with Greek Prime Minister Kyriakos Mitsotakis in Athens.
“Those who had not considered this carefully enough for a long time are doing it now in light of the developments worldwide,” said Scholz when asked about Europe’s China ties.
Greek Prime Minister Kyriakos Mitsotakis shakes hands with German Chancellor Olaf Scholz as they hold a news conference at the Maximos Mansion in Athens, Greece October 27, 2022. REUTERS/Louiza Vradi
At the same time, Scholz defended the German government’s decision to allow China’s Cosco to take a 24.9% stake in a terminal in Hamburg as good and correct – one that brought on protest within the governing coalition over concerns about Chinese influence.
He emphasized that the “ground and soil” of the port in Hamburg were state property and would never be privatised.
The approved investment is less than the initially planned 35% stake that the Chinese shipping giant and logistics firm HHLA had aimed for and does not give Cosco any say in the management or strategic decisions.
The big question is how important is this base to supplying America's vast Army bases and airfields in Germany. If it's important then why haven't @thejointstaff@US_TRANSCOM, @DOTMARAD, @SecretaryPete & our Port Envoy to the Whitehouse General Stephen Lyons released statements?
Reporting by Andreas Rinke; Writing by Miranda Murray; Editing by Paul Carrel
gCaptain Note: There has been no comment on the port sale by US Secretary of Defense Lloyd Austin, Supreme Allied Commander General Christopher G. Cavoli, or US Transportation Command General Van Ovost who use German ports like Bremerhaven and Hamburg to support NATO and the approximately 35,000 American troops stationed in Germany. Department of Transportation Secretary Peter Buttigieg and White House Port envoy Stephen Lyons have also not commented on the matter.
By Arijit Ghosh (Bloomberg) Transnet SOC is probing the existence of illegal freight trains that are depriving South Africa’s state-owned rail operator of revenue. The logistics firms that’s struggling to ship...
In an ambitious move towards sustainability and efficiency, the Georgia Ports Authority (GPA) has announced a $170 million investment to acquire 55 state-of-the-art hybrid rubber-tired gantry cranes (RTGs) for the...
The European Union has agreed on a new defense mechanism, allowing retaliation against countries employing economic blackmail or punitive trade measures, such as China’s blockade of Lithuanian imports due to...
5 hours ago
Total Views: 1690
Sign Up Now for gCaptain Daily
Just enter your email and get hot news every morning
SIGN UP
Get the latest gCaptain articles and breaking news
Sign up for gCaptain Daily
Get the latest gCaptain articles and breaking news
We use cookies on our website to give you the most relevant experience. By clicking “Accept”, you consent to the use of ALL the cookies.
This website uses cookies to improve your experience while you navigate through the website. Out of these, the cookies that are categorized as necessary are stored on your browser as they are essential for the working of basic functionalities of the website. We also use third-party cookies that help us analyze and understand how you use this website. These cookies will be stored in your browser only with your consent. You also have the option to opt-out of these cookies. But opting out of some of these cookies may affect your browsing experience.
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.
{"Tags":["China","china cosco","germany","port of hamburg"],"Categories":["Ports"],"Excerpt":"by Andreas Rinke (Reuters) German Chancellor Olaf Scholz on Thursday stressed the need for Europe to diversify its relations to ensure it is not dependent on any one nation, a..."}