US, China raise the stakes in Panama Canal ports row
Source: Yahoo! News/AFP
Sat, March 29, 2025 at 10:41 PM EDT
China's fury at the sale of Panama Canal ports to a US-led consortium reflects how container hubs have become prized currency as Beijing and Washington vie for global influence, analysts say. Hong Kong conglomerate CK Hutchison this month sold 43 ports in 23 countries -- including operations in the vital Central American canal -- to a group led by giant asset manager BlackRock for $19 billion in cash.
After two weeks of rhetoric, Beijing hardened its response on Friday and confirmed that antitrust regulators will review the deal, likely preventing the parties from signing an agreement on April 2 as planned. Speaking before the review was announced, experts told AFP that the deal allowed US President Donald Trump to claim credit for "taking back" the canal as part of his "America First" agenda.
"The US (created) a political issue at China's expense and then has been able to declare victory," said Kurt Tong, managing partner at The Asia Group and a former top US diplomat to Hong Kong. "That doesn't feel good in Beijing." Ports are crucial to that network and China "has been notably successful in this area", said Henry Gao, a trade law expert at the Singapore Management University.
Last month, Panama formally exited the BRI following a visit from US Secretary of State Marco Rubio. Some of the ports being sold are in nations that participate in Beijing's Belt and Road Initiative (BRI) -- a global development framework championed by Chinese President Xi Jinping.
Read more: https://www.yahoo.com/news/us-china-raise-stakes-panama-024148938.html?guccounter=1
This story has been buried under an avalanche of other stuff.
More Lebensraum (which is part of 45's global destabilization).
= new reply since forum marked as read
