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Exclusive | China Threatens to Block Panama Ports Deal Unless Its Shipping Giant Is Part of It
China want its company COSCO to have an equal share in ownership of the 40 ports including ones in Panama that Hutchison of Hong Kong is selling for $23 billion to Black Rock and MSC.
In 2014 China blocked a deal where Maersk would merge with a French shipping company and MSC to form a larger company. Much of China's export surge and its manufacturing capacity largely for exports rests on shipping and logistics and a large role is played by Denmark's Maersk and by COSCO. This has led to the US and Europe losing with its manufacturing base its role in world shipping, and as a result also in shipbuilding. All three are linked. India as it builds its manufacturing base is also building up its logistics and shipping terminals. DJT has emphasized the importance of the ports and it is seen as an affront that the country that built the Panama Canal has ceded its ports there.
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