
Why China's Port Play Has Trump So Up In Arms
China's state-owned Cosco shipping giant had purchased a 60% stake in the port for $1.6 billion, which gave the company exclusive use of the port for 60 years. Days later, the first ship departed for Shanghai loaded with blueberries, avocados and minerals.
Chancay is part of China's vision of a 21st-century maritime Silk Road that will better connect China's manufacturing hubs with its trading partners around the world. This has involved a heavy investment in ports in many countries, which has the West concerned about China's expanding influence over global shipping routes.
Newly re-elected US President Donald Trump made clear these concerns when he claimed China was“operating” the Panama Canal and the US intended to take it back . China does not operate the canal, though. Rather, a Hong Kong company operates two ports on either side of it.
Port expansion boomThe scale and scope of the maritime Silk Road is impressive. China has invested in 129 ports in dozens of countries through its state-owned enterprises, mostly in the Global South . Seventeen of these ports have majority-Chinese ownership.
According to one estimate, Chinese companies invested $11 billion in overseas port development from 2010–19. More than 27% of global container trade now passes through terminals where leading Chinese firms hold direct stakes.
China has entered Latin America aggressively, becoming the region's top trading partner . Its port strategy has clearly signaled a long-term goal to access the exports essential to its food and energy security: soybeans, corn, beef, iron ore, copper and battery-grade lithium.

Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.
Most popular stories
Market Research

- Manuka Honey Market Report 2024, Industry Growth, Size, Share, Top Compan...
- Modular Kitchen Market 2024, Industry Growth, Share, Size, Key Players An...
- Acrylamide Production Cost Analysis Report: A Comprehensive Assessment Of...
- Fish Sauce Market 2024, Industry Trends, Growth, Demand And Analysis Repo...
- Australia Foreign Exchange Market Size, Growth, Industry Demand And Forec...
- Cold Pressed Oil Market Trends 2024, Leading Companies Share, Size And Fo...
- Pasta Sauce Market 2024, Industry Growth, Share, Size, Key Players Analys...
Comments
No comment