The Chinese government has intervened to stop the planned April 2 sale of two Panama Canal ports owned by the Hong Kong conglomerate CK Hutchinson to the US-based conglomerate Black Rock.
CK Hutchinson operates two of the five ports adjacent to the Panama Canal. Panama first awarded the company the concession to run the ports in 1998 and extended it for another 25 years in 2021. The Canal is a major maritime chokepoint and manages about 3% of the global maritime trade.
The issue of Chinese ownership of critical ports serving the Panama Canal predates President Trump’s second term; see Does China Run the Canal? – RedState.
The administration launched a full-court diplomatic press that got Panama to withdraw from China’s Belt and Road Initiative; see UPDATED: Trump Admin. Lays Down the Law Over Panama Canal, Sets Up Major Confrontation; Panama Folds –…
