These acquisitions are gradually giving Beijing a potential stranglehold on global shipping — with profound military as well as commercial implications.
Yet China, having accumulated this unprecedented stake in global shipping and commerce, and its power and profits present ominous possibilities for the future.
Five years ago, China, through Cosco, purchased a controlling stake in the Port of Piraeus on Greece’s largest harbor — Europe’s seventh largest.
In September, Cosco also took a major stake in the container operator at the port in Hamburg, Germany’s largest.
The consequences of doing nothing as China continues to penetrate the world’s ports and shipping are potentially catastrophic.
Joe Biden, Xi Jinping, Jerry Brown, Los Angeles Mayor Antonio Villaraigosa, ”, Kostas Fragogiannis, Cosco
U.S, Washington, Naval, China’s Offshore Shipping Company, U.S . Naval, California Gov, Los Angeles Mayor, Pentagon, U.S . Africa Command, European Union, ASEAN, African
America’s, China, Los Angeles, Miami, Houston, Seattle, Beijing, California, West, U.S, Cosco, Port, Piraeus, Greece’s, Europe, Asia, Hamburg, Germany’s, Djibouti, Horn of Africa