Eight months have passed, and looking back at this picture is worth a lot of money. My first impression when the tariff war started was that the East would immediately retaliate, and then Trump backed down, which I also wrote about.

The reason why Li Ka-shing's sale of the port has been highlighted by senior officials and sparked controversy is that we need to view the strategic significance of ports from another perspective. The image below clearly indicates the pattern of post-modern competition, where ports are an important competitive point in the future industrial system, alongside mineral energy, etc.

As industries continuously upgrade and transition to unmanned production modes and new smart industrial markets, the importance of ports in trade will become increasingly evident. Especially in the context of Sino-U.S. competition, the choice to let go is a matter of great concern. Trump pays more attention to the return of high-end manufacturing and welcomes the upgrade to unmanned industrialization; ports can be understood as nodes in trade, which are as important in trade as they are in blockchain. A company should not choose sides without reaching a new international consensus.

Many governments support foreign investments to establish new ports and control maritime trade nodes. After the 2008 financial crisis, when we rescued Greece, the Port of Piraeus was the most important bargaining chip at that time.

The strategic significance of ports outweighs actual return rates, just like the railways built under the Belt and Road Initiative. Railways, as an outdated industry, do not yield much return, but their strategic significance is greater than their return rate. However, the Li family is a company whose external assets exceed its internal assets, making it difficult to assess good or bad. For a company, or even a small country, it is best to maneuver between major powers rather than choose sides.

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