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International Business Times
International Business Times
Business

US, China Raise The Stakes In Panama Canal Ports Row

The CK Hutchison deal allowed US President Donald Trump to claim credit for "taking back" the Panama Canal (pictured) according to analysts (Credit: AFP)

China's fury at the sale of Panama Canal ports to a US-led consortium reflects how container hubs have become prized currency as Beijing and Washington vie for global influence, analysts say.

Hong Kong conglomerate CK Hutchison this month sold 43 ports in 23 countries -- including operations in the vital Central American canal -- to a group led by giant asset manager BlackRock for $19 billion in cash.

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