Hol
Well-known
The business outlet Bloomberg reported on Thursday that its anonymous sources affirmed the Chinese Communist Party had ordered an end to “projects” in Panama following that nation’s top court ruling that a deal granting outsized power to a Hong Kong corporation over the Panama Canal was unconstitutional.
The Hong Kong-based Panama Ports Company (PPC) signed two contracts with the Panamanian state that granted it control of large territories on both sides of the Canal to develop new ports for incoming ships. Some estimates suggest that the ports PPC was contracted to develop handle as much as 40 percent of Canal traffic.
The PCC is a subsidiary of the massive Hong Kong corporation C.K. Hutchison Holdings Ltd., controlled by 97-year-old communist sympathizer Li Ka-shing. Both the conservative government of President José Raúl Mulino, who has been in office since 2024, and the government of the United States, which built the Panama Canal, have for years expressed concerns about the Chinese Communist Party gaining so much control over the pivotal waterway.
After years of legal action, the Panamanian Supreme Court ruled late last week that two contracts awarded to PCC in 1997 and 2021 were unconstitutional, as they significantly hurt the interests of Panama to the benefit of the Chinese regime-linked company. The United States celebrated the ruling, while CK Hutchison announced it would turn to arbitration against the government of Panama, seeking financial damages for the ruling.
www.breitbart.com
The Hong Kong-based Panama Ports Company (PPC) signed two contracts with the Panamanian state that granted it control of large territories on both sides of the Canal to develop new ports for incoming ships. Some estimates suggest that the ports PPC was contracted to develop handle as much as 40 percent of Canal traffic.
The PCC is a subsidiary of the massive Hong Kong corporation C.K. Hutchison Holdings Ltd., controlled by 97-year-old communist sympathizer Li Ka-shing. Both the conservative government of President José Raúl Mulino, who has been in office since 2024, and the government of the United States, which built the Panama Canal, have for years expressed concerns about the Chinese Communist Party gaining so much control over the pivotal waterway.
After years of legal action, the Panamanian Supreme Court ruled late last week that two contracts awarded to PCC in 1997 and 2021 were unconstitutional, as they significantly hurt the interests of Panama to the benefit of the Chinese regime-linked company. The United States celebrated the ruling, while CK Hutchison announced it would turn to arbitration against the government of Panama, seeking financial damages for the ruling.
Retaliation: Report Claims China Exiting Business in Panama After Canal Ruling Loss
Bloomberg reported that China ordered an end to "projects" in Panama after the Supreme Court ruled the Canal ports contract unconstitutional.
www.breitbart.com
