China failed to keep promises for the local economy in Greece. Now will be expelled from Piraeus.

Chinese State-owned company COSCO Shipping currently owns a controlling stake in the Piraeus Port and Beijing had promised to uplift the local economy of the region when it took over the centuries-old port.

Yet, for all the hype built around Chinese operations at the Piraeus port, Greece hasn’t really benefitted in terms of local jobs or investments.

The Chinese inability to create enough jobs, bring in investments and generate enough jobs has now become a matter of dispute. COSCO blames the Greek administration and local opposition for delays.

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