China Blocks Panama Canal Port Sale — Report Claims Xi Jinping Infuriated by Deal Sought Without His Approval

Citing unnamed sources familiar with the matter, the newspaper [the Chinese state-run Ta Kung Pao] said Xi was angered that CK Hutchison had not sought his approval for the deal and that he had hoped to use the Panama Canal ports as a bargaining chip with Trump, who has pledged to “take back” the strategically important waterway. The necessary pretext was evidently discovered at the eleventh hour, as China’s State Administration for Market Regulation suddenly announced it would investigate the deal to “protect fair competition in the market and safeguard the public interest.” Legal and business analysts quoted by Al Jazeera tended to side with the White House official who spoke to the New York Post, predicting that it will be legally difficult for Beijing to kill the deal if Panama exercises its jurisdiction over the canal and gives its blessing.

Author: John Hayward, John Hayward

---