Is it given to the United States but not to China? Chinese companies just offered to take over, and Panama has already sentenced Hutchison Whampoa, with the port set to be reclaimed.

Under pressure from the United States, the Panamanian government has stopped pretending and is planning to forcibly reclaim the operating rights of two ports in the Panama Canal, directly excluding China.

Since Cheung Kong Holdings, owned by Li Ka-shing, started negotiations with an American consortium to sell its global ports, the deal involves two ports in the Panama Canal, which could affect China's national security. This has drawn high attention from China, and the State Administration for Market Regulation immediately launched an investigation into the transaction.

China also proposed a solution: Chinese enterprises should join this multinational consortium and jointly fund the acquisition of all of Cheung Kong's overseas ports, giving them veto power or equivalent authority over the Panama Canal ports. After some reflection, Cheung Kong has actively proposed inviting mainland investors to join the buyers, which can be considered a win-win situation for all parties involved.

However, the United States was not pleased and once again resorted to underhanded tactics. The worst-case scenario that China feared has finally come true.

According to Lianhe Zaobao, recently the Panamanian National Audit Office submitted two lawsuits to the Supreme Court, arguing that the contract renewal did not follow legal procedures and requested it to be declared invalid.

Subsequently, President of Panama, Laurentino Cortizo, intervened, stating that if the court ruled the contract renewal invalid, the Panamanian government would reclaim the operating rights of the two ports and turn them into a public-private partnership. He saw no possibility of continuing the contract execution.

The Panamanian government's calculations are clear to everyone. The key issue is not whether Cheung Kong violated any rules, but rather that the Panamanian government wants to force the termination of the contract and blame Cheung Kong, trying to shift responsibility and avoid paying any compensation, which is truly "if one wants to frame someone, there is no lack of excuses."

Cheung Kong had previously clarified the matter, refuting all the accusations made by the Panamanian Audit Office, emphasizing that all their processes were legal. However, the Panamanian government now is turning the blame on Cheung Kong, just using it as an excuse to justify their subsequent actions.

After the president of Panama made his statement, everyone knows what the Supreme Court will decide. It is almost certain that the government will forcibly reclaim the operating rights of the ports in the Panama Canal.

The reason why the Panamanian government took such measures is twofold: first, they cannot openly act recklessly because China is watching closely, and it is not a country that they can easily offend. Therefore, they have chosen this approach to hinder Cheung Kong; second, the United States wants to openly take the operating rights of the Panama Canal ports from Cheung Kong, but it is impossible to avoid China. Although China obviously will not agree, when the Panamanian government takes action, China cannot oppose and must accept it.

However, the Panamanian government's move is not clever at all, even said to be too obvious. Previously, Cheung Kong obtained the operating rights of the ports through market methods. Now, under Trump's order, Panama immediately ran to do the favor, handing the operating rights of the ports to the United States. Their behavior has harmed China's legitimate interests, especially not wanting to pay the breach-of-contract fee, which shows they don't respect China at all.

Notably, previously, under pressure from the United States, the Panamanian government terminated its cooperation with China on the "Belt and Road Initiative."

From now on, the Panamanian government has made up its mind to cut ties with China and align with the United States. However, I hope they do not regret it later.

Let's not mention it, but two small ports are far from satisfying the United States. Trump wants the entire Panama Canal. Is the Cortizo government willing to sell national sovereignty for survival?

Moreover, China has already prepared a backup plan. China and Brazil signed a memorandum of understanding for the Two-Ocean Railway. In the future, Chinese ships can bypass the Panama Canal and connect with America through the Port of Chancay to establish a major trade artery.

Original article: https://www.toutiao.com/article/7533890085947736617/

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