Germany’s Chancellor Olaf Scholz has apparently learned nothing from Germany’s fatal mistake of becoming dependent on Russian gas.
On October 26, Germany’s government decided to let the Chinese state-owned enterprise COSCO Shipping Ports, which has links to China’s People’s Liberation Army, buy a stake in the Port of Hamburg. COSCO is the world’s third-largest container carrier measured by capacity, and the fifth-largest port terminal operator in terms of the amount of cargo and vessels that it handles. The Port of Hamburg is Germany’s largest port and the second-largest port in Europe, making it part of Europe’s most critical infrastructure.
The deal will let COSCO have a 24.9% stake in the port and is a compromise [reduction from proposed 35%] following a dispute within the government between Germany’s Chancellor Olaf Scholz and six of his government ministers.
The opposition also criticized the deal.
(Olaf Scholz of the SPD [leftist Social Democratic Party] , was elected in December 2021, succeeding Angela Merkel. He was elected after the SPD entered into a coalition agreement with Alliance 90/The Greens and the FDP.)
In Germany one man, the Chancellor, has the power in his hands to make a decision so detrimental to his country, even when six of his own ministries are against it!