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☆ Biden promise to rival China on shipbuilding faces a big economic problem
▼ + stars: | 2024-04-25 | by ( Lori Ann Larocco | ) www.cnbc.com time to read: +11 min

The Biden administration is correct that China has not played fair. But he said the nations that could rival China in shipbuilding are Asian competitors. Shipbuilding subsequently dropped to around five ships per year, which is approximately the current rate of U.S. shipbuilding. President Joe Biden speaks to members of the United Steel Workers Union at the United Steel Workers Headquarters on April 17, 2024 in Pittsburgh, Pennsylvania. Biden announced new actions to protect American steel and shipbuilding industries including hiking tariffs on Chinese steel.

Persons: Biden, Ben Nolan, Nolan, Reagan, Joe Biden, Jeff Swensen, —, Darron, Wadey, Lloyd, Matson, George Washington, Ronald O'Rourke, O'Rourke Organizations: Mitsui Shipbuilding Co, Taicang Port Economic, Technological, Future Publishing, Getty, CNBC, Shipbuilding, Global, United States, Trade, U.S . Trade, U.S, China's Ministry of Commerce, United Steel Workers, Japan's Nippon Steel, United Steel Workers Union, United Steel Workers Headquarters, Analysts, Matson Shipping, Jones Act, Philly Shipyard, CMA CGM, Matson, United, Maritime Administration, U.S ., Huntington Ingalls Industries, News Shipbuilding, U.S . Navy, U.S Navy, Newport News Shipbuilding, Virginian Pilot, Tribune, Service, Force, warfighting, Navy, Biden, Congressional Research Service Locations: Taicang Port, Suzhou, Jiangsu province, China, U.S, Japan, South Korea, United States, Pennsylvania, Pittsburgh , Pennsylvania, American, Bangladesh, U.S . Virgin Islands, Great, Mississippi, Ohio

☆ Germany wants tighter foreign investment controls amid China 'de-risking'
▼ + stars: | 2023-08-20 | by ( ) www.reuters.com time to read: +1 min

The effort comes as Berlin urges companies to reduce their reliance on China and as the government examines whether its current set of regulations is sufficient to encourage this. Germany has at times been seen as a weak link in the Western approach to China, given the strong business ties with its single biggest trading partner. "Investment reviews have gained enormously in importance in Germany, Europe and internationally in recent years," the document said. In addition, the ministry is also considering checking the security significance of new factories built in Germany by foreign companies, as well as whether security-critical research cooperation deals need to be scrutinized. Reporting by Andreas Rinke; Writing by Tom Sims; Editing by David HolmesOur Standards: The Thomson Reuters Trust Principles.

Persons: Robert Habeck, China's Cosco, Andreas Rinke, Tom Sims, David Holmes Organizations: Reuters, Sunday, Thomson Locations: Berlin, China, West, Germany, Hamburg, Europe

☆ China targeting German tech 'through back door' with licences - report
▼ + stars: | 2023-08-09 | by ( Reinhard Becker | ) www.reuters.com time to read: +2 min

The flags of Germany and China are seen ahead of a meeting between German Chancellor Olaf Scholz and Chinese Premier Li Qiang in Berlin, Germany, June 19, 2023. REUTERS/Fabrizio BenschBERLIN, Aug 9 (Reuters) - China is going after licences to boost its access to German technology as investment regulation makes company acquisitions in the sector increasingly difficult, the Handelsblatt newspaper reported on Wednesday, citing a study. Tech licences are one way for China to try to get in "through the back door", he told Reuters. As a result, direct investments and takeover bids by Chinese companies have attracted scrutiny in Berlin in recent months. Through licensing agreements, Chinese companies can gain legal permission to use German technology.

Persons: Olaf Scholz, Li Qiang, Fabrizio Bensch BERLIN, Juergen Matthes, China's Cosco, Rachel More, Kirsti Knolle, Sharon Singleton Organizations: REUTERS, Tech, Reuters, Thomson Locations: Germany, China, Berlin, Russia, Hamburg

☆ Shelved port deal will test Temasek’s private push
▼ + stars: | 2023-07-13 | by ( ) www.reuters.com time to read: +2 min

SINGAPORE, July 13 (Reuters Breakingviews) - Temasek is having a bad weather week. The Singaporean investor’s wholly owned port operator PSA International is shelving plans to sell its 20% stake in CK Hutchison’s (0001.HK) port business, per Bloomberg. PSA was seeking $4 billion for its stake, a touch less than what it paid. This week, Temasek itself reported a 5.2% drop in the net value of its portfolio to $285 billion in the 12 months to the end of March, as public markets remain weak. The world’s 10th-largest sovereign investor has 53% of its portfolio parked in unlisted assets, double the level a decade ago.

Persons: CK Hutchison’s, Li Ka, China's Cosco, Breakingviews, Daga, Una Galani, Thomas Shum Organizations: Reuters, Temasek, CK, Bloomberg, Twitter, Thomson Locations: SINGAPORE, HK, Hong Kong, Singapore, China

China became Germany's single biggest trade partner in 2016. A recent survey by the Ifo think-tank found that nearly half of German industrial firms now rely on significant inputs from China. But Scholz's trip comes at a time of growing concern in the West - particularly in Germany's top security ally, the United States - about China's trade practices, human rights record and territorial ambitions. FDP General Secretary Bijan Djir-Sarai called the decision "naive" and criticized the timing of Scholz's trip to China as "deeply unfortunate". But the German chancellor declined Macron's offer, the sources said.

☆ Germany allows China's Cosco to take 24.9% stake in largest port -sources
▼ + stars: | 2022-10-26 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 26 (Reuters) - The German cabinet approved on Wednesday an investment by China's Cosco for a 24.9% stake in one of logistics firm HHLA's (HHFGn.DE) three terminals in Germany's largest port in Hamburg, government sources told Reuters. This is less than the initially planned 35% stake that the Chinese shipping giant had aimed for and comes a week before Chancellor Olaf Scholz is due to travel to China. The compromise was negotiated after significant political resistance against the deal. Economy minister Robert Habeck was among the politicians that said that Germany should avoid Chinese investment in critical infrastructure if possible. Reporting by Andreas Rinke, Writing by Rachel More, editing by Kirsti Knolle and Maria SheahanOur Standards: The Thomson Reuters Trust Principles.

☆ EU warned Germany against approving Chinese investment in port - Handelsblatt
▼ + stars: | 2022-10-21 | by ( ) www.reuters.com time to read: +1 min

BERLIN, Oct 21 (Reuters) - The European Commission warned the German government last spring not to approve an investment by China's Cosco into Hamburg's port, German daily Handelsblatt reported on Friday, citing sources. Register now for FREE unlimited access to Reuters.com RegisterAccording to Handelsblatt, the EU warned that sensitive information about the business could make it into Chinese hands if Germany allowed the investment. The German government, which is still weighing whether to approve the deal, declined to comment on the report. A spokesperson for Olaf Scholz said the German chancellor had not yet agreed with the relevant ministers how to proceed. Register now for FREE unlimited access to Reuters.com RegisterReporting by Markus Wacket; Writing by Maria Sheahan; editing by Matthias WilliamsOur Standards: The Thomson Reuters Trust Principles.

☆ Rejecting Chinese bid would put Hamburg port at disadvantage, mayor says
▼ + stars: | 2022-09-19 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterA container of China Shipping is loaded at a loading terminal in the port of Hamburg Germany July 27, 2018. REUTERS/Fabian BimmerBERLIN, Sept 19 (Reuters) - Germany would put its port of Hamburg at a competitive disadvantage if it quashed a bid from China's Cosco to buy a stake in a container operator, the port city's mayor said. A rejection would be "a one-sided, competition-distorting disadvantage for Hamburg compared to Rotterdam and Antwerp, where Cosco already owns terminal shares," Mayor Peter Tschentscher told Reuters. "In order to keep up with international competition, it must also be possible for shipping companies to participate in terminals in Hamburg if this makes business sense," Tschentscher added. read moreRegister now for FREE unlimited access to Reuters.com RegisterReporting by Andreas Rinke Writing by Miranda Murray and Rachel More Editing by Mark PotterOur Standards: The Thomson Reuters Trust Principles.

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