President Trump can probably chalk this up as a win: The American asset manager BlackRock, according to an announcement made on Tuesday, will be purchasing two key Panama Canal ports from a Hong Kong-based Chinese firm. The possession of these ports by a Chinese concern has, according to President Trump, represented a strategic threat to American shipping as well as to the movement of naval vessels.
The ports in question are Balboa and Cristobal.
A consortium of firms led by BlackRock is buying two key ports in the Panama Canal from a Hong Kong-based firm for nearly $23 billion after President Donald Trump expressed concern that the strategic waterway was falling under Chinese influence.
BlackRock, the world’s largest asset manager with a portfolio of investments valued at $11.5 trillion, has agreed to purchase majority stakes in ports on both sides of the…
