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China Takes over Pakistani Port

Pubdate:2013-02-22 09:49 Source:lijing Click:

China recently took control of Pakistan's Gwadar port, a move that could give it a strategic economic advantage for shipping products across the world and receiving raw materials from other countries. The docks were transferred to the state-owned China Overseas Ports Holding Company earlier this week, as the Chinese financed much of the nearly $250 million needed to develop the port, which will likely be used to help grow China's economy, business supply chains and aid its military growth.


Managing this port provides Chinese boats with critical access to the Strait of Hormuz, which, according to The Associated Press, is the path nearly 20 percent of the world's oil takes on its way to market. This could give Chinese companies the potential to be able to procure energy sources more quickly and easily and ensure businesses within the country aren't limited on the natural resources they need to increase production.