Cosco's Hamburg investment poses disproportionate dependency risk - foreign ministry note

COSCO Shipping International (SINGAPORE)

26/10/2022 11:03

BERLIN, Oct 26 (Reuters) - Germany's foreign ministry
warned in a cabinet note that an investment by China's Cosco in
a terminal at the port of Hamburg increased Germany's dependence
on China disproportionately and endangered the success of
European transport projects.
    The investment "disproportionately expands China's strategic
influence on German and European transport infrastructure as
well as Germany's dependence on China," says the note seen by
Reuters.
        In the event of a crisis, the acquisition would open up
the possibility for China to politically instrumentalize part of
Germany's, as well as Europe's, critical infrastructure, the
note continued.
  
        A government source said the note had the backing of all
ministries controlled by the Greens and the Free Democrats, the
two junior parties in Social Democrat Chancellor Olaf Scholz's
coalition.
  
 (Reporting by Kirsti Knolle, Writing by Thomas Escritt, Editing
by Miranda Murray)
 ((kirsti.knolle@thomsonreuters.com;  +49 30 220133561;))