That controversial sale of two Panamanian ports has sparked even more public disagreement and debate. There are reports dated March 28 noting that “China has punished Hong Kong billionaire Li Ka-shing.” It’s his company, CK Hutchison, that made the deal with BlackRock. The Pooh Bear also cut his own throat. His angry response proves that the facilities are totally under Chinese control and a clear violation of the canal treaty.
China controlled ports
Two ports strategically located at either end of the Panama Canal are clearly under Chinese control. Their proposed sale to an American investor forced Xi Jinping to tip his hand.
Officials in Beijing ordered “Chinese state-owned businesses to stop doing deals with Mr. Li’s CK Hutchison conglomerate.”
President Donald Trump was getting ready to take back control of the Panama Canal, alleging the two ports are a prime example of China’s controlling influence.
It was clear that the Hong Kong owner was only a “straw buyer,” holding it to cover the Pooh Bear’s interest. CK Hutchison was all set to toss the political hot potato to U.S. “investment giant” BlackRock and pick up $22.8 billion in cash at the same time.
“In retaliation, Chinese authorities have effectively blacklisted CK Hutchison and the business interests of the Li family by telling Chinese state-backed firms they will struggle to get regulatory approval for any work involving the group.”
That means the sale is in limbo but no longer really matters. It gives President Trump all the proof he needs to send an aircraft carrier in, repossess the canal and seize both ports for free.
Not treated fairly
As soon as he regained office, President Trump “claimed that American ships were being charged excessive fees” and generally “not treated fairly in any way, shape or form.” When Jimmy Carter sold our canal to Panama for $1, they wrote a clause in the treaty insisting that it remain entirely neutral politically.
The Panamanians broke their end of the bargain by allowing Hong Kong to build the two ports. It was clear to everyone that China was really behind them. A word from the Pooh Bear could close the canal at both ends, any time. That’s not neutral.
Hutchison “denied the Panama sale was politically motivated.” Even so, “it sparked a furious reaction from the Chinese Communist Party, which sent a senior level delegation to Panama and railed against the move in state-controlled media.”
They called Li a traitor to China. Sale of their ports was “a spineless kneeling, profit-seeking and unrighteous act, ignoring national interests and national justice, and betraying and selling out all Chinese people.”
If the ports are owned by Hong Kong, how could their sale be a way to “suppress China’s development?” That’s what Marco Rubio will soon be asking. For now, “the Hong Kong company has stopped the sale of its port operations in the Panama Canal.”
It’s too late for China to keep them, though. The damage has been done and America will soon be there with military force to seize both ports. We’ll be taking back the canal that runs between them at the same time.
