Will EU Block China Economic Silk Road?

New Eastern Outlook has the article Will EU Block China Economic Silk Road?.

Here is an excerpt that makes on narrow point of all that is covered in the whole article.

China’s Maritime Silk Road envisions directing state investment into key sectors such as acquisition of port management agreements, investment in modernized container ports and related infrastructure in select EU states.

At present the most developed example is the Greek port of Piraeus, operated under an agreement with the Chinese state company, COSCO, as port operator. Modernization and more than €1.5 billion investment from China has dramatically increased the port’s importance. In 2016 Piraeus’s container traffic grew by over 14 percent and COSCO plans to turn Piraeus into the fifth largest European port for container traffic. Before COSCO, it was not even in the EU top 15 in 2007. In 2016 COSCO bought 51% of Piraeus Port Authority for €280 million, and now owns 66%. Last year Piraeus Port, COSCO and Shanghai Port Authority, China’s largest container port, signed a joint agreement to further boost trade and efficiency at Piraeus. Greek Deputy Economy Minister Stergios Pitsiorlas said at the time, “The agreement means that huge quantities of goods will be transported to Piraeus from Shanghai.”

The narrow point that I see here is that, if the western vulture capitalists are going to punish countries like Greece, countries like Greece will find a way out by allying with a more helpful China. Reading the rest of the article, I see the possibility that as the western capitalists try to convince us that unfettered capitalism is the only solution, China will foil this by proving their economic model is better for all of us.

Looks like I was right about a previous post along these lines, China’s trillion dollar plan to dominate global trade. Our reaction is essentially “We don’t need no stinkin’ infrastructure. Besides if China’s infrastructure starts to annoy us, we can just blow it up.”

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.