German Chancellor Olaf Scholz backs China, ignores government warnings in Hamburg port deal, report says
German Chancellor Olaf Scholz backs China, ignores government warnings in Hamburg port deal, report says
Despite calls to scrap planned Chinese investment in Hamburg, the city’s ex-mayor wants it to go ahead.
An investigation by German regional public broadcasters reported Wednesday that Scholz's chancellery is pushing to approve efforts by Chinese state-owned shipping giant Cosco to buy a foothold in a container port in Hamburg, ignoring warnings from six federal ministries, including the Greens' Vice Chancellor Robert Habeck, amid fears of risky economic over-dependence on Beijing.
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ignoring warnings from six federal ministries, including the Greens’ Vice Chancellor Robert Habeck, amid fears of risky economic over-dependence on Beijing.
Reality:
Cosco and HHLA have been working together for more than 40 years. Cosco and HHLA had entered into initial talks about a shareholding in June 2021. Cosco originally wanted to take over 35 percent of the terminal operating company. However, several federal ministries protested against this, so that the cabinet set the quota at below 25 percent in October last year to prevent Cosco from acquiring a blocking minority.
You should not use politico for your primary source of information. In the best case they get it half right, often not even that.
Thanks for the fact check. Always crazy to see such an (at first glance) respectable medium spread such fake news.