China Buys Panama’s Largest Port

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.

Australia’s Darwin port leased to Chinese company for 99 yrs

America outmaneuvered through ‘business’ with an Australian government who considers cattle a priority over national security in Oceania and the Asia-Pacific. Being that China will now have an 80% stake in the port, they have an opportunity to exploit economic warfare on Australia as well.

 

A decision by Australia’s Northern Territory government to lease the Port of Darwin to the Chinese-owned Landbridge Group for 99 years has become a hot topic of debate among the nation’s senior defense officials, reports the state-owned Australian Broadcasting Corporation (ABC).

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Tracey Hayes, chief executive of the Northern Territory Cattlemen’s Association, welcomed the deal as she believes it is vital to keep Australia’s busiest port for live cattle export running efficiently.