Timothy Birdnow

Trump kicked the Chinese out of the port of Long Beach. High time.

Obama fostered the deal which put the Chicoms in control of a major U.S. port.

From the American Thinker article:

China's Cosco Shipping Holdings, which bought out its 75 percent–owned Hong Kong–based Orient Overseas International (OOCL), was forced to sell its Port of Long Beach Container Terminal ownership to Macquarie Infrastructure Partners for $1.78 billion.

The Obama administration had no problems with OOCL signing a 40-year lease with the City of Long Beach in 2012 for control of America's second largest and most automated container handling operation. The sweetheart deal was part of the "Middle Harbor Redevelopment Program" to fund a $1.5-billion expansion through 2020.

But one of the first major actions of the Trump administration's Department of Homeland Security in March 2017 was issuing a "Committee on Foreign Investment in the U.S." national security hold on Cosco's acquisition of a former U.S. Navy port facility.

China operates six of the world's ten busiest container ports. The Chinese government has also funded the construction and operations of 43 ports in 35 countries under its "One Belt and One Road" (OBOR) initiative launched five years ago, according to China's Ministry of Transport.

Posted by: Timothy Birdnow at 01:29 PM | No Comments | Add Comment
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