Posted on 12/22/2020 8:22:41 AM PST by ransomnote
It’s probably not a good idea for a country you’re fighting in a trade war to control one of your biggest ports. That’s a situation that was set to happen because of COSCO Shipping’s deal to buy Orient Overseas International Limited (OOIL) back in 2017 and President Trump starting a battle of escalating tariff hikes with China in 2018.
OOIL owns the Long Beach Container Terminal. That’s the company that operates the Long Beach Container Terminal at the Port of Long Beach. Yes, the company shares the same name as the terminal, rather than OOIL using an Orient Overseas moniker.
COSCO shipping is a Chinese state-owned company. Taking over its Hong Kong based rival OOIL means COSCO would take over Long Beach Container Terminal. You can connect those dots with the transitive property.
While the topic didn’t get much press, probably because this is the generally thought of as dull topic of international shipping we’re talking about here, the Trump Administration obviously didn’t like the idea of the Chinese government controlling the operations at one of America’s most important ports. Yes, this could fairly be classified as a national security issue.
Therefore, the U.S. government required OOIL to sell the Long Beach Container Terminal. It took some time for OOIL to find a buyer and the sale to get approval, but things are moving forward with the transaction. Though that isn’t to say the process of regulatory approval is complete.
Back in April, Chester Yung reported in the Wall Street Journal:
MORE AT LINKOrient Overseas (International) Ltd. said Tuesday that it would sell the Long Beach Container Terminal business in Southern California to a consortium led by Macquarie Infrastructure Partners for $1.78 billion.
The sale by the unit of China-based Cosco Shipping Holdings Co. is being undertaken pursuant to the National Security Agreement entered into by Orient Overseas, fellow Cosco Shipping unit Faulkner Global Holdings Ltd., the U.S. Homeland Security Department and the U.S. Justice Department last July. Under that agreement, Orient Overseas had committed to divest itself of ownership of the Long Beach Container Terminal business.
I believe that Barry Sotero already sold (or perhaps initially leased) the port to China, along with one on Florida's coast and that the information is classified because the public might wonder what China's been doing with those ports during Obama's reign.
"Anonymous sources" on the internet wrote about this port a few years ago - asserting that they were treated as sovereign and did not allow US inspection of it.
I've just heard from Steven Ben Nun that Israel has this kind of arrangement with China now. China has bought a port (or container shipping dock?) and is preparing to buy another near Haifa. Also, Steven says that going forward, China will dictate the terms under which the US may access those ports.
Prayers up for Israel - China is a harsh "ally" that only intends to rob, steal and destroy etc.
For Christians, FReeper Ymani Cricket recently wondered if "Red Dragon" = China. It could explain some things.
No worries, creepy, corrupt China Joe will fix this.
Feinstein was trying to do this quite a number of years ago. Mike Savage railed against it numerous time on his “Savage Nation” show.
We have undone Commisar Clinton’s handiwork.
bookmark
Probably?
China has controlled, through Hutchinson-Whampoa, both entrances to the Panama Canal since shortly after Operation Just Cause unseated Noriega.
It’s called understatement for effect.
:)
A general reply here. If you are unaware, see the Belt and Silk Road initiative and commentaries.
https://www.cfr.org/backgrounder/chinas-massive-belt-and-road-initiative
Port Snort, Part Deux!
A terrifying country we have become. Our enemies are so large throughout the land. May YHVH (God) forgive us.
Long Beach is the busiest port in the US.
Next: PANAMA CANAL
P
Meanwhile moslems control most ports on the east coast ....
China has controlled, through Hutchinson-Whampoa, both entrances to the Panama Canal since shortly after Operation Just Cause unseated Noriega.
~~~~~~ Wow. I don’t know how I missed that! That’s YUGE! Was it well publicized at the time? Wow.
Well, we were assigned there and were at Albrook AFS when the mortars and tracers started firing (0050 on 20 Dec 89), so I may have been more tuned in than some.
Colonel, USAF TJAGCR (ret)
The next mountain carving in what used to be America
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