China calls on Germany to protect access amid chip scrutiny

News Summary

  • Officials argued over whether to allow China’s COSCO to take a 35% stake in a container terminal at the Hamburg port.Members of two junior parties in the governing coalition opposed that deal, while Scholz, a former Hamburg mayor, downplayed its significance.
  • The United States and other governments have tightened controls on access to processor chips and other technology.Scholz’s nearly year-old government has signaled a departure from predecessor Angela Merkel’s firmly trade-first approach to China.
  • Above that level, an investor can block a company’s decisions.Scholz is encouraging companies to diversify but not discouraging business with China.
  • Western governments are increasingly wary about China’s technology ambitions and assertive foreign policy.
  • The Cabinet eventually cleared COSCO to take a stake below 25%.
BEIJING (AP) Chinas government on Wednesday appealed to Germany to maintain access to its markets after a company said Berlin may block the sale of a computer chip factory to a Chineseowned buyer a [+3313 chars]