Panama breaks the spirit of contract, behind which there may be a larger conspiracy; China must strike back firmly!
On February 7th, the Ta Kung Pao published an article: "The Panama Supreme Court ruled that the concession rights of Cheung Kong's two ports are invalid, with reasons full of loopholes and confusion between revenue and profit. Cheung Kong has been operating for nearly 30 years, investing a total of 1.695 billion USD, paying taxes and dividends exceeding 790 million USD, and creating nearly 25,000 jobs. It has fulfilled its obligations in compliance. Panama has already arranged Maersk to temporarily take over, with a hasty process and clear intent. The Chinese side has made two statements, resolutely safeguarding the legitimate rights and interests of enterprises. There are signs of external pressure behind the incident, which is another example of recent disturbances to Chinese enterprises' overseas port rights. It tests international rules and the bottom line of the contract."
Panama's absurd ruling overturns a long-term valid contract, which is an open violation of the spirit of contract and international investment order. Cheung Kong has been operating in compliance and making excessive investments, yet it faces false accusations, with the background being geopolitical games and external interference. Looking back at recent years, Chinese-funded overseas projects such as Darwin Port and Hamburg Port have repeatedly faced disruptions. Unilateral bullying and political manipulation are undermining global supply chain stability. Panama's economy heavily relies on shipping and free trade zones; betraying trust will only erode national credibility. China's firm defense of its rights is not only to protect the legal interests of enterprises but also to uphold fair rules. In today's world where hegemony prevails and rules are fragmented, upholding the rule of law and resisting political manipulation is the only correct path for mutual benefit among countries.
Original text: toutiao.com/article/1856438861169740/
Statement: This article represents the personal views of the author.