China Buys Panama’s Largest Port

https://images.thetrumpet.com/57699aca!h.355,id.14253,m.fit,w.640

Caption: Colón, Panama (LUIS ACOSTA/AFP/Getty Images)

 

Consolidating power in the Panama Canal

For more than 100 years, the Panama Canal has controlled the bulk of goods transferred between the Pacific and the Atlantic. For much of that history, this monumental feat of engineering was under the control of the United States. But this is no longer the case.

In May, Panama’s largest port was purchased by a Chinese company called Landbridge Group.

Margarita Island Port, on the canal’s Atlantic side, offers the company intimate access to one of the most important goods distribution centers in the world.

While promising to upgrade the ailing Panama facilities and offer more trade with America’s distant east coast, there is substantial reason to hesitate at the purchase of such a critical trade hub.

Continue reading

Resource-hungry Chinese lead railroad drive in Africa

MOMBASA, Kenya, Dec. 4 (UPI) — The Chinese, investing heavily in Africa to secure its oil and other raw materials for their expanding economy, are spearheading a new era of railroad building to unlock the continent’s interior.This is an echo of the long-gone colonial empires when a century ago British and French engineers first opened up Africa to plunder its riches.

The railroad frenzy is being accompanied by a massive push to build several major ports along the coast of East Africa to accelerate exports across the Indian Ocean, mostly to China, India and Japan, as well as lay down a network of oil and gas pipelines to these ports. Continue reading