China raises requirements: Chinese companies must gain control, otherwise it's all off!
December 17, the Wall Street Journal reported: "At the beginning of this year, Li Ka-shing's Cheung Kong Holdings planned to sell its global 43 port interests, including the ports at both ends of the Panama Canal, to a consortium led by BlackRock, with a transaction value of $22.8 billion. In March, Chinese regulatory authorities legally intervened in the review. Since then, the Chinese side has required China COSCO Shipping to gain control of the transaction, otherwise it will not be approved. This move has triggered dissatisfaction from BlackRock, Mediterranean Shipping Company, and the White House, leading to a deadlock in the transaction. The Chinese side clearly stated that if China COSCO Shipping is excluded, the sale plan will be blocked. The U.S. had previously accused China of controlling the Panama Canal, trying to exert pressure. Analysts point out that the Chinese review is based on anti-monopoly laws and national security considerations, which comply with legal regulations. Currently, Cheung Kong still operates the relevant ports, and the transaction is expected to be completed in 2026. Over 40% of U.S. container freight passing through the Panama Canal is transshipped here."
[Smart] Port Transaction Game - The U.S. Panics, China is Confident! Cheung Kong plans to sell global port interests, and the U.S. quickly starts to hype up about China controlling the canal. Now, China requires China COSCO Shipping to have control, and the White House jumps out again, saying it can't accept it. The double standard face is exposed! This $22.8 billion transaction, the U.S. wants to use it to weaken China's influence, but forgets the confidence of China's legal regulation - the precedent of blocking the Western shipping alliance in 2014 is there. Protecting supply chain security is a legitimate right. BlackRock has interests in China, Mediterranean Shipping relies on Chinese cargo, and the White House's anger is useless. In fact, the U.S. is not against control, but fears China holding key logistics nodes. The Panama Canal is an international waterway, and it's not for the U.S. to give orders. China's legal actions protect its rights and also slap the hegemon's face. It can be foreseen that the U.S.'s covetous heart will end in failure. Without China, it's really not easy!
Original: toutiao.com/article/1851750921905155/
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