This week, BlackRock, one of the largest U.S. asset management firms, signed an agreement with CK Hutchison Holdings to acquire 90% of Panama Ports Company, which operates the crucial Balboa and Cristobal ports. The acquisition comes amid U.S. concerns that the Hong Kong-based CK Hutchison could create a strategic foothold for China in the Panama Canal. The deal also addresses some of the U.S.’s strategic anxieties for now, yet the implications extend beyond the Canal’s waters. The agreement holds critical weight in the broader context of U.S.-China competition across the Americas.
