China Criticizes BlackRock's $22.8B Panama Ports Deal

CK Hutchison's $22.8 billion deal to sell ports near the Panama Canal to a BlackRock-led consortium has drawn fierce criticism from China, which views the agreement as a betrayal of national interests. A government-backed commentary described the deal as 'spineless groveling' and accused CK Hutchison of disregarding the Chinese people's interests, raising concerns about U.S. influence over vital shipping routes. Despite the backlash, analysts suggest that the deal is not contingent on Chinese regulatory approval, since CK Hutchison retains its domestic ports. However, the political implications and potential for Beijing's influence may complicate the transaction. U.S. President Trump has been vocal about reclaiming control over the canal, heightening tensions between the U.S. and China regarding their geopolitical interests in Latin America. As investor confidence wavers, CK Hutchison's stock saw a significant drop following the criticism, reflecting uncertainty around the deal's future.