The US and China Spar Over a Port in Hamburg, Germany
For more crisp and insightful business and economic news, subscribe to The Daily Upside newsletter. It's completely free and we guarantee you'll learn something new every day.
The US is taking credit for blocking a Chinese company from taking a controlling stake in a German port, but China isn't taking kindly to being the subject of American Schadenfreude.
After reports on Wednesday that an anonymous official claimed the US embassy had "strongly suggested" to Germany that it block Chinese shipping giant Cosco from buying up a 35% stake in a Hamburg port terminal, China issued a statement Thursday warning the US not to intervene in diplomatic relations between The People's Republic and other nations. The flare-up comes just as German chancellor Olaf Scholz is due to fly to Beijing for a now potentially awkward visit.
Source Fool.com
