China has sharply criticized U.S. reactions to Panama's Supreme Court decision to cancel a major port contract with Hong Kong-based CK Hutchison, calling it a reflection of America's “cold war mentality.” The diplomatic clash comes as tensions rise over global trade routes. 🚢💥
What Went Down
Last week, Panama annulled CK Hutchison's contract to operate port terminals after 25 years, citing constitutional concerns. U.S. Secretary of State Marco Rubio praised the move, sparking Beijing's ire. China's Foreign Ministry spokesperson Lin Jian accused Washington of “ideological bias” and vowed to defend Chinese companies' rights “firmly.”
Why It Matters
The Panama Canal handles 6% of global maritime trade. With CK Hutchison – a major overseas investor – now sidelined, analysts say this could reshape supply chains and amplify U.S.-China competition in Latin America. 💼🌎
Lin emphasized that “the international community knows who truly respects international law,” hinting at U.S. interference. Meanwhile, Rubio framed the ruling as a win against “expansionism,” per reports.
