Why China buying up ports is worrying Europe
Far-reaching commercial activities raise question of whether port investments are linked to military purposes and represent a security risk in host countries
There is rising concern about whether China will use its commercial acquisitions of overseas ports for military purposes, under its drive to put civilian technology and resources to military use.
Under its trillion-dollar “Belt and Road Initiative” – a blueprint announced in 2013 to boost trade and connectivity in Asia, Africa, Europe and beyond – China has significantly increased its global investments, particularly in maritime infrastructure.
Pioneering Chinese companies such as Cosco Shipping Ports and China Merchants Port Holdings are on a march to acquire shares or sign deals to build terminals at seaports overseas.
Cosco began operating a container port in Piraeus in Greece in 2008, when the Greek government was near bankruptcy. Beijing has since become a big player in the European port business.
China has gained a foothold in Europe’s three largest ports: respectively Euromax in Rotterdam, the Netherlands, of which it owns 35 per cent; Antwerp in Belgium, in which it holds a 20 per cent stake; and Hamburg, Germany, where it is to build a new terminal.
