China buys into Greece

mike65

Look out! They've been big in East Africa for a decade and now the Chinese have spotted an opportunity for expansion into Europe. A 20 billion euro trading deal has been struck between the two

http://www.guardian.co.uk/business/2010/jun/15/greece-china-contracts-signed

Greek officials said the fourteen deals amounted to the biggest single investment by China in Europe. China views Greece as a "perfect gateway" to the continent and Balkan peninsular where Chinese exports have proliferated in recent years.

Under the agreement, Cosco, one of the world's largest container terminal operators, will extend its reach with the construction of up to 15 dry bulk carriers in Greece. The company took over cargo management at Pireaus, the eastern Mediterranean's premier dockyard, on a 35-year concession worth $1bn (£680m) last year.

The Chinese construction company BCEGI also signed an accord, thought to be worth €100m (£830m), to develop a hotel and shopping mall complex in Pireaus.

Other deals include the exchange of know-how between China's Huawei Technologies and the Greek telecoms organization OTE and four agreements signed by food firms to export olive oil to China.

Mary McAleese is in China right now I believe....hmmm.

jacaranda

China has been in Africa for many more years than just a decade. They have also been in South America and many other places in the world for a very long time.

The Chinese have "been" in Europe for years and are responsible for the ending of much of our manufacturing.