China Ocean Shipping Company (COSCO), a government-owned company of the People’s Republic of China and contributor to the Chinese Navy, officially signed a contract with the Greek government to buy Piraeus, the largest port city in Greece.
The contract was signed under the leadership of Xi Jinping’s administrative team.
Are there really Mutual Benefits with the Harbor Purchase?
China’s foreign relations officials have proposed that this purchase of the Greek harbor is beneficial to both parties. This harbor happens to be the gateway between Asia and Europe. China is planning a new silk road (“One Belt, One Road”) that extends their financial reach to Europe. The port of Piraeus is a huge leap in the fulfillment of this plan.
For Greece, currently troubled by a budget crisis, selling this port infrastructure little by little would gain them access to foreign currency. China has been drawing close using financial support as bait.
It Takes Away Employment from the Greeks
In the long-term it is highly doubtful whether it would benefit Greece
There has already been a protest demonstration by the laborers at the port who sensed that their jobs were under threat by China’s workers. China always uses this method. They use Chinese workers and Chinese materials at infrastructure investment plans in Africa. This does not help the employment or industry for the local people.
Piraeus will be used as a Chinese Military Facility
It is very possible that China will use the port for military purposes. For instance, let us suppose that China gives Greece a large amount of money. There is no guarantee that Greece will be able to return that money, which is the reason why the neighboring EU countries are not financially supporting Greece. To continue the scenario, if Greece cannot return their huge debt the government may have no choice but to listen to China’s every bidding. If this happens, China will be able to use the port as a military facility with no strings attached.
China is also doing this in Africa, where they make countries incur debts to politically pressure them. China helped build the African Union Headquarters, Presidential executive offices in various African countries as well as embassies and houses for government officials. Afterwards, in the 2006 Zambia Presidential elections, China threatened that if an anti-China candidate won, China would cease all local resource development.
China used infrastructure maintenance as a pretext for entering Tibet and the Uyghurs, using this as a stepping-stone for its military invasion.
Financial Affairs = Military Affairs?
What first seems like a new financial support system and relationship for Greece is likely to propel China’s colonization of Greece. We must keep China’s dangerous financial advancement in mind, and in the meanwhile expand our financial network among the economic liberalist regions to establish prosperity. This may contribute to destroying China’s encirclement network.