The American investment fund BlackRock has taken a significant step in the Panama Canal by acquiring the ports of Balboa and Cristobal, owned by the Chinese firm CK Hutchison. This purchase takes place in the midst of an intense political debate, as tensions between Panama, the United States and China have been increasing due to the growing presence of Chinese companies in strategic infrastructures such as the Panama Canal.
The agreement, worth around 19 billion dollars , was pushed forward by pressure from former President Donald Trump, who had openly expressed his concern about “Chinese interference” in this important international trade route. In a speech during his term, Trump went so far as to promise that the Panama Canal “would be taken back” if China managed to consolidate a greater presence in the region.
The location of the ports of Balboa and Cristobal
The ports acquired by BlackRock are located at two ends of the Canal, giving them key strategic value. Balboa, on the Pacific, is Panama’s second largest port in terms of container volume, with an annual capacity of more than 5 million TEUs (20-foot Container Equivalent Units). Cristobal, on the Atlantic, has an annual capacity of 2 million TEUs. These ports are essential for global maritime trade and for the logistics routes connecting North America and Latin America.
Despite Trump’s criticism and concerns about China’s influence, the Panamanian government has stressed that this transaction is strictly commercial. However, political analysts believe that the agreement could be a way to calm tensions and ensure that Panama maintains control in its decisions on key infrastructure without the intervention of foreign powers.
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Source: BBC
Photo: shutterstock
