Germany’s cabinet decided to allow Chinese shipping giant Cosco to buy a minority stake in the country’s largest port in Hamburg on Wednesday after months of discussions. The resolution was passed by Chancellor Olaf Schulz, sparking unprecedented protests within the ruling coalition. The deal does not give COSCO any leverage in management or strategic decisions. However, opponents of the decision worry that this would open up the possibility for China to use part of Germany’s critical infrastructure as well as Europe for political ends.
Germany puts pressure on Cosco Shipping’s acquisition of a minority stake in the Port of Hamburg
