In 2016, Greece signed a €368.5 million deal to sell the operator of Piraeus
port to the Chinese shipping group COSCO. The acquisition has gone quite well
for both the Chinese side and the Greek side as the Port has expanded dramatically
and is being more efficiently run by the Chinese side.
China spent over $9 billion in 2016 buying up Ports. Recently the policy is
accelerating with China now purchasing over $20bn in 2017.
Several months ago , China put forward plans for three ocean-based “blue economic
passages” that will connect Asia with Africa, Oceania, Europe and beyond, in a bid
to advance maritime cooperation under the Belt and Road Initiative.
The China-Indian Ocean-Africa-Mediterranean Sea blue economic passage, will run
westward via the South China Sea to the Indian Ocean, and link with the China-
Indochina Peninsula Economic Corridor, and connect with the China-Pakistan, and
Bangladesh-China-India-Myanmar economic corridors.
The China-Oceania-South Pacific passage will run southward via the South China
Sea into the Pacific Ocean, while another economic passage is also envisioned
linking Europe via the Arctic Ocean.
Four separate initiatives are set for Malaysia, with Chinese company investments
scheduled for the $7.2bn Melaka Gateway, the $2.84bn Kuala Linggi Port, the
$1.4bn Penang Port and the $177m Kuantan port projects, according to company
announcements.Ningbo Zhoushan Port plans to invest $590m into the Kalibaru project,
an expansion of Tanjung Priok, in Indonesia.
Some may be skeptical of China’s eagerness of building these new economic
partnerships. It just so happens that major investments are going into countries
with dispute claims in the South China Sea. One would also notice that once the
One-Belt, One-Road plan is implemented the U.S. Navy will no longer be able to
choke off oil supplies into China at the straights of Malacca.
The old World War 2 era strategies are no longer going to be able to hold.
The world has enter a new Economic Hot War. America is being left far behind as the
world slowly is engulfed by Chinese economic power. The U.S. surrendered this fight
when they let go of their industrial heartland to the mercantilist economies of
Europe and Asia.