The Biden administration is warning Germany and other European nations not to let China take control of companies in strategic sectors, a senior US official said, pointing to a recent move to whittle down China’s stake in the Hamburg port as a successful outcome.
The US had passed a message along via its Embassy in Berlin that China have no controlling interest in the port, according to the official, who spoke to reporters on condition of anonymity on Wednesday. In the end, Germany allowed Chinese state-owned shipping conglomerate Cosco Shipping Holdings Co. to buy a 24.9% stake in one of Hamburg’s port terminals.
