Robert Besser
15 Feb 2025, 02:08 GMT+10
BEIJING, China: Last week, China criticized the U.S. after Panama decided not to renew a vital infrastructure deal with Beijing.
China accused the U.S. of using threats and pressure to influence Panama's decision, especially after Washington warned it might take back control of the Panama Canal.
Chinese Foreign Ministry spokesperson Lin Jian said China firmly opposes the U.S. using pressure to damage its Belt and Road Initiative.
This program, led by President Xi Jinping, builds infrastructure like roads, railways, and power plants in different countries. While it has helped some nations, it has also raised concerns about debt and environmental damage.
Panama's decision was seen as a way to ease tensions with the U.S. after U.S. Secretary of State Marco Rubio told Panamanian President Jose Raul Mulino that China's influence over the canal must be reduced or the U.S. might take action. However, Mulino has refused to discuss ownership of the canal, which is crucial for global trade.
Still, some believe Panama may consider removing Hong Kong-based Hutchison Ports from operating canal terminals. The company was given a 25-year contract without competition, and a review is now underway, which could lead to a new bidding process.
Meanwhile, a drought has lowered water levels in the canal, causing shipping delays. Former U.S. President Donald Trump has complained about the slowdown, but it is not related to China.
China says its Belt and Road Initiative has benefited over 150 countries, including Panama, but did not give specific examples. Lin Jian urged Panama to resist outside pressure and make decisions based on long-term interests.
Get a daily dose of Austin Globe news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Austin Globe.
More InformationNEW YORK CITY, New York: At a Walmart Supercenter in New Jersey, buttercream borders and edible-ink cartoons aren't just about sweet...
NEW YORK, New York - Wall Street delivered a split performance on Monday, with the Nasdaq Composite notching up gains while the Dow...
NEW YORK CITY, New York: Luxury group Kering is in exclusive discussions to sell a stake in its prime New York real estate asset on...
CINCINNATI, Ohio: Facing global economic headwinds and mounting tariff pressures, Procter & Gamble announced plans this week to cut...
AMSTERDAM, Netherlands: Tesla saw a sharp decline in sales across several major European markets in May, marking its fifth consecutive...
BERLIN/FRANKFURT: Some car parts factories in Europe have stopped production, and companies like Mercedes-Benz are making backup plans...
Washington DC [US], June 9 (ANI): Academy Award winner Al Pacino recalled turning down the 'Star Wars' role and shared why he was reluctant...
(Photo credit: Lon Horwedel-Imagn Images) Denny Hamlin worked his way by William Byron with four laps to go and had enough gas to...
Tens of thousands of anti-drone missiles were promised to Ukraine by the Biden administration, Vladimir Zelensky has said US President...
Gurugram (Haryana) [India], June 7 (ANI): As Prime Minister Narendra Modi is set to attend the G7 summit to be held later this month...
By Ravi Khandelwal Vancouver [Canada], June 6 (ANI): Canada needs to have a better relationship with India and move forward positively...
New Delhi [India] June 6 (ANI): Mumbai Dreamers player Aakash Balmiki believes that the inaugural edition of the Rugby Premier League...