Panama has moved against two Hong Kong operated ports after pressure by the U.S. to force China out of the canal. Hong Kong was once an independent city-state that has since been taken over by the Chinese Communist party. CK Hutchinson Holdings responded, claiming, “None of the actions by the Panama State were advised to or coordinate with PPC. The Panama State is responsible for harm and damage caused by the confiscatory actions it has taken.”
Panama seizes control of two ports operated by Hong Kong subsidiary upi.com
from news.google.com
Panama authorities have taken control of two ports operated by a subsidiary of a Hong Kong company, assets that came under scrutiny after President Donald Trump claimed China exerted too much influence over their operation.
Hong Kong-based conglomerate CK Hutchison Holdings condemned the Monday takeover in a statement on Tuesday that said the actions of Panama were “unlawful” and raised risks to the operations, health and safety of the Balboa and Critobal terminals that its subsidiary, Panama Ports, has been operating for decades.
“None of the actions by the Panama State were advised to or coordinate with PPC,” Hutchison Holdings said.
“The Panama State is responsible for harm and damage caused by the confiscatory actions it has taken.”