International News: Panama Canal Ports deal faces uncertainty amid China pushback

By Zoila Palma: A major £18 billion deal led by U.S. investment giant BlackRock to acquire control of ports near the Panama Canal is under threat, as Chinese officials push for a stake in the transaction, Reuters reports.

The deal, which includes 43 global ports and key facilities at Cristobal and Balboa flanking the canal, would shift ownership from Hong Kong-based CK Hutchison to BlackRock and its partners, including Mediterranean Shipping Company (MSC).

China, concerned about losing influence over the critical trade route, has threatened to block the sale unless state-owned shipping company Cosco is given a role.

The Panama Canal itself remains under the control of the Panama Canal Authority, but the ports serve as crucial entry and exit points for global shipping.

Both Panama’s government and China have criticized the U.S. framing of the deal as a strategic “reclaiming” of the canal.

With the deadline approaching, failure to finalize the deal could rattle global trade routes.

However, a compromise involving limited Chinese participation may still allow the sale to proceed.

source: breakingbelizenews