The scramble for ports in Greece is part of a global contest to control the plumbing of maritime trade, from Argentina to Thailand.
About 80% of the world's trade by volume travels by sea, and governments naturally worry about keeping goods moving.
Chinese firms now operate or have a financial stake in at least 129 ports outside China, and have spent at least $80bn on port construction from Antigua to Tanzania.
China's firm grip on global ports has rattled Western governments, with many investing in their own port infrastructure to reduce dependence on particular chokepoints.
The rush to build port infrastructure is likely to result in huge inefficiencies, and many investors, including both American and Chinese taxpayers, will see disappointing returns.
As the global trading system becomes increasingly complex, the desire to reduce dependence on particular chokepoints for both commercial and geopolitical reasons is only natural.
