China Objects to $23 Billion Panama Port Sale to BlackRock-Led Consortium - Business,Finance,markets,
China Objects to $23 Billion Panama Port Sale to BlackRock-Led Consortium
China is making its opposition clear over a massive $23 billion deal that could see two Panama Canal ports fall into the hands of a BlackRock-led investor group. The deal, which involves the Hong Kong conglomerate CK Hutchison selling its ports, has sparked a fiery response from Beijing, with state-owned media calling out the move in a scathing op-ed.
The deal, which would give U.S. investors control over the ports, has already been praised by former President Trump, who has previously accused China of trying to control the Panama Canal. However, China has struck back, urging CK Hutchison to “think twice” about the sale, claiming it could be a move by the U.S. to limit China’s trade power. The op-ed even goes as far as to accuse CK Hutchison of “selling out” to the U.S., and the company’s stock saw a nearly 7% drop in response.
Despite China’s strong objections, experts say the deal may still go through, though it has ignited concerns about the growing tensions between the U.S. and China.
What do you think of China’s reaction to this deal? Share your thoughts in the comments!
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