**Meta:** China criticizes the sale of Panama Ports to US investors, calling it power politics. Discover the implications of this $22.8 billion deal.
**Content:**
### China Criticizes Sale of Panama Ports to US Investors
**Who:** China, CK Hutchison, BlackRock
**What:** Sale of Panama Ports Company
**When:** Recent deal announcement
**Where:** Panama
**Why:** Concerns over US influence and national interests
China has expressed strong disapproval of the recent sale of the Panama Ports Company, which manages the ports of Balboa and Cristóbal, to a consortium led by US financial giant BlackRock for $22.8 billion. The Hong Kong-based parent company, CK Hutchison, has been urged to reconsider the deal, which China views as an act of “power politics” detrimental to its national interests.
### Impact on CK Hutchison’s Shares
– CK Hutchison’s shares dropped over 6% following a critical commentary in the Beijing-backed newspaper Ta Kung Pao.
– The commentary accused the company of compromising its integrity for profit, stating, “This is a spineless, grovelling, profit-seeking move that sells one’s integrity for personal gains.”
### US Pressure and Political Context
The sale comes amid heightened pressure from former President Donald Trump, who has criticized China’s influence over the Panama Canal. The opinion piece in Ta Kung Pao condemned the US for using “despicable means” to pressure the deal, labeling it an act of hegemony.
– The article stated, “This deal is an act of hegemony by the US, which uses its state power to infringe upon the legitimate rights and interests of other countries.”
### CK Hutchison’s Position
CK Hutchison has maintained that the transaction is purely commercial and unrelated to political developments. Frank Sixt, co-managing director of CK Hutchison, emphasized that the sale resulted from a competitive bidding process.
### Conclusion
As the exclusive negotiation period with the BlackRock consortium continues, the future of this deal remains uncertain. Will CK Hutchison heed China’s warnings, or will the sale proceed as planned?
**FAQs:**
**Q: What is the significance of the Panama Ports Company sale?**
A: The sale is significant as it reflects geopolitical tensions between the US and China, with implications for control over key trade routes.
