The West’s new interest in infrastructure

How things have changed in 15 years! In 2008, a Chinese state company, Cosco, bought the port of Piraeus, outbidding a Hong Kong-based multinational. No Western firm showed an interest in Greece's biggest port. The government at the time, under Kostas Karamanlis, proceeded with the agreement with China in the framework of broadening the country's geopolitical reach - and because, basically, no one else was interested. It was the right move at the time and met with little resistance.

A similar deal today would raise a lot of dust and cause some serious reactions in Europe and in the United States. European and American media have taken an interest in Greece's two big ports in recent years - in Piraeus because of China's involvement and in Thessaloniki because of the involvement of a businessman with ties in Russia. In the case of Piraeus, they speak of China's increasing...