China, Hong Kong threaten to thwart sale of Panama Canal ports to America's BlackRock
- CK Hutchison Holdings agreed to sell port assets, including two Panama Canal ports, to a BlackRock-led consortium for nearly $23 billion, pending regulatory approval, as announced on March 4.
- Chinese media has pressured CK Hutchison to halt the sale, claiming it violates Hong Kong law and endangers China's interests, according to Ta Kung Pao's commentary.
- US officials have expressed strong opposition to Chinese control of the Panama Canal, emphasizing that it cannot be a Chinese outpost, as stated by Marco Rubio on March 19.
- The deal has caused shares of CK Hutchison to fall 12.4%, and it is now uncertain if the sale will proceed as originally planned, per various reports.
54 Articles
54 Articles
Commentary: Even Hong Kong’s Li family can’t escape the politics of China-US rivalry
For two weeks, Hong Kong’s richest family, led by Li Ka-shing, held firm against Beijing over the planned sale of its Panama ports assets to BlackRock. That, in itself, is truly extraordinary, says former SCMP editor-in-chief Wang Xiangwei.
How a 43-port business deal threatens China’s global power
How far is China willing to go to protect its geopolitical interests overseas? As a Hong Kong company prepares to sell 43 ports to a U.S.-led group, Beijing has launched a campaign to modify – or ideally stop – the deal.
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