Removing Chinese Communists from this essential port is a tremendous feat and a huge victory for U.S. national security. Investment by China’s COSCO means that the port will be more likely to attract Chinese cargo.”. In sub-Saharan Africa there are dozens of existing or planned port projects funded or operated by China, according to a study that highlights the threat the Chinese … A corridor at the international airport at Hambantota. All rights reserved. This could take the form of government ownership, or more likely ownership by non-profit joint government/private entities. Prosecutor Candidate who Vows Lock Up Fewer Cr... Surge in Illegal Immigrants Smuggled into U.S. If there's a conflict between security and profits, profits will come first. Next, we may hear about how Lithuania finally opens the doors and lets China Merchants move in and do their thing at Klaipeda port. Another key area where China’s port acquisitions diverge from those of other countries is the fact that they are often not only developing mere seaports but complete transport-centric economic zones, which generally include manufacturing areas, business centers, power plants, and, occasionally, residential housing projects. “Chinese overseas port investment typically involves a whole range of Chinese state-owned enterprises: a Chinese bank or development bank, a Chinese port construction company, and a Chinese operator,” Merk explained. While big Chinese state-owned firms began acquiring ports around the world rather quietly roughly a decade or so ago, now, under the strategic framework of what has been dubbed the 21st Century Maritime Silk Road (MSR) — the watery part of the broader Belt and Road Initiative (BRI) — these acquisitions have taken on a booming significance as this inter-continental network begins to take shape. What China offers is the FDI that emerging markets, diversifying economies, and some of the stagnant countries of Europe are hungry for on a silver platter, provisioning countries with large-scale infrastructure projects they couldn’t otherwise afford and then providing the cargo, companies, and other investors to make them a success. The Democrats, if they're not too timid, should expand congressional hearings on the UAE deal to include the larger issues of port security and the ownership and control of America's strategic infrastructure. Chinese government-owned companies control terminals in the Port of Los Angeles and other West Coast ports, as well as both ends of the Panama Canal. Example: The $10 billion Kyauk Phyu Special Economic Zone in Myanmar isn’t only becoming a Chinese shipping/manufacturing epicenter on the cusp of Southeast and South Asia, but is one of the points where China's maritime and overland Silk Roads connect, with a corridor that shoots north to Kunming in southwestern China that is already being provisioned with gas and oil pipelines. In sub-Saharan Africa there are dozens of existing or planned port projects funded or operated by China, according to a study that highlights the threat the Chinese investments present to U.S. influence in the region. The story makes it seem like a regular business transaction in which “a Chinese state-owned company, reached a deal to sell the terminal, one of the busiest in the port, for $1.78 billion.” The piece also quotes the Port of Long Beach’s deputy executive director saying that the transaction process was intricate and involved one of “our most valuable port assets.” Buried at the bottom of the article is a sentence mentioning that the U.S. government, which regulates mergers for antitrust and security reasons, stepped in and required COSCO to sell its rights to the container terminal. You don't have to be an economic nationalist to think that certain strategic infrastructure should not be owned by foreign companies, particularly those owned by foreign governments. The vision was for China to construct an array of three enhanced sea routes from China to Europe and Africa, and filling them with new ports, manufacturing zones, and even entirely new cities. Judicial Watch Opposes State Dept./DOJ Request to End Discovery in Clinton ... On Watch: The #COVID19 Crisis on our Southern Border the Media ISN'T Coveri... On Watch: Marxism & the Current Insurrection in America. Judicial Watch, Inc. is a conservative, non-partisan educational foundation, which promotes transparency, accountability and integrity in government, politics and the law. A picture taken on March 29, 2017 shows containers of shipping company Maersk at the docks at Le... [+] Havre's harbour, in Le Havre, northwestern France. “COSCO and China Merchants Holdings -- unlike PSA and DP World-- do not function according to a fully commercial logic, but also have to align to state policies, such as the Belt and Road Initiative,” Olaf Merk of the International Transport Forum at the OECD explained. Profit-making corporations, foreign or domestic, should not be allowed to own key strategic infrastructure.

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