Kumport has an annual capacity of 1.84 million TEUs of container traffic and has room for expansion to up to 3.5 million TEU capacity [Image: Kumport]
A joint venture set up by a Chinese investor consortium has bought a 65 per cent stake inTurkey’s third largest container terminal for $940 million, the company announced Thursday.
China Merchants teamed up with COSCO Pacific Ltd. and a subsidiary of China Investment Corp. to buy the stake in the Turkish company that now effectively gives the Chinese group the control over its port facility.
A report filed by China COSCO Holdings to the Shanghai Stock Exchange said the investors purchased Kumport Terminal, located on the northwest coast of the Marmara Sea on the European side of Istanbul.…
Turkey expects to become a manufacturing and logistics base for Chinese enterprises, Turkish President Recep Tayyip Erdogan told Chinese Premier Li Keqiang in Beijing in July this year.The BRICS Post
Turkey suggested a special free-trade zone that will enable Chinese firms to carry out trade and production in Turkey, said Turkish Economy Minister Nihat Zeybekci during bilateral talks with Chinese Minister of Commerce Gao Hucheng in Beijing.
Chinese group buys Turkish port for $940 mn
2 comments:
This is where I am a bit conflicted with the idea that "Exports are a cost and Imports are a benefit". China is only able to buy up all these prime real resources by using all the US dollars they earned by selling their goods and services to the US. Don't you all think that the value China is getting by purchasing there goods is multi fold larger than what the US consumers got by importing goods from China?
So isn't in the longer term China better off?
net, they could have paid in lira or EUR and this is just converted to USDs here in the story so US readers can better understand the magnitude....
But your larger issue (exports a cost yada yada) is being played out right now in the US electoral process... lets see where it goes...
Trump is on it 'big league' and so is Bernie 'Sunday league'...
CNBC is going to soon host a GOP 'debate' where the ONLY topic is going to be economic policy.. this will be the one to watch... this will come up there I'm sure...
It would be good if Trump wins primary and runs on his massive tariffs and then Hillary runs on her neo-liberal status quo (free market fundamentalism), then we get a read out of where we stand in the results of that...
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