Despite much resistance within the coalition, the German government pushed ahead with this agreement. Cosco now gets 24.9% of a terminal in the port of Hamburg. This brought joy to Hamburg, where Scholz was mayor for many years. Scholz was able to take advantage of the solid network he has there. “He knows everyone there very well, including the managing directors of the port of Hamburg and all the major shipping companies and parties involved,” says Marseille.
“More than a million people have jobs directly or indirectly thanks to the Port of Hamburg”
Despite the criticisms, many people are happy with the partial sale of the terminal. “More than a million people are directly or indirectly employed thanks to the port of Hamburg,” says Marseille. With the minority stake now held by the Chinese company, there is assurance that investment in the port will continue.
Contrasting politics
According to our correspondent from Germany, the rationale behind the approval is an interesting strategic issue. “Earlier this week, Schultz said in a speech in Strasbourg that he wants a smart decoupling from China.” As leader of the Social Democratic Party, Scholz seems to want to take a pragmatic course. The speech reflects that there are very different views in the German cabinet on how to deal with China.’
Not without risk
The Greens are dissatisfied within German governments and believe China should be tackled much tougher. Issues such as human rights violations and national security risks are leading here. ‘There is also a lot of data on the flow of goods in the port. It will therefore be partly in Chinese hands. Because it’s a minority interest, Scholz says it’s not a big enough risk to actually come to a negative decision. “The chancellor is going against the advice of the intelligence services here.” Scholz did not take into account other advisory bodies, such as the Ministry of Economy.
For China, this agreement is a symbolic step and they are proud of this agreement with Germany. “It is in line with Chinese policy to be the world’s leading economic power by 2030-2050,” says Marseille.