BlackRock Will Buy Panama Canal Ports from CK Hutchison
New York TimesMAR 8
BlackRock-led Group Buys Panama Canal Ports from Hong Kong Firm
Above: Two container ships MOL Pace from Panama and OOCL Atlanta from Hong Kong unload their cargo at Southampton Container Terminal on March 26, 2017. Image copyright: Chris Ison - PA Images/Contributor/PA Images via Getty Images
The Spin
Republican narrative
The acquisition represents a strategic victory for Pres. Donald Trump and American strategic interests by removing Chinese influence from critical infrastructure — enhancing national security, and protecting US maritime interests in a vital shipping route that handles 40% of US container traffic. The deal demonstrates the effectiveness of diplomatic and economic pressure in advancing American strategic objectives.
Democratic narrative
The transaction is purely commercial in nature and unrelated to Trump's bad faith political pressure, resulting from a competitive bidding process that serves shareholders' interests. The previous port operations were never under Chinese government control, and claims of Chinese interference in canal operations are unfounded, as the canal remains a neutral international waterway under Panamanian sovereignty.