SATISH SHARMA - not just Rotigraphy.: America wants control over four of the world's key "chokepoints" for sea trade. As well as taking control of Panama, the US wants to build an alternative to the Suez Canal, running through Israel close to the Gaza strip.

https://x.com/NuryVittachi/status/1906167881316151748

China has stepped in to halt the sale of the Panama port operations to a BlackRock consortium. To "protect fair competition and safeguard the interests of the public", it will conduct an anti-trust review on the deal first, the Chinese regulator said on its WeChat account on Friday. Tycoon Li Ka-shing's company was due to sign a deal next week selling most of the CK Hutchison ports operation to a group led by the massive, US-dominated financial corporation BlackRock. . 'WE WILL INVADE AND TAKE IT' The deal, announced last month, stunned the world—as it followed direct threats from the US's bullyboy President Donald Trump that he was prepared to invade Panama to get hold of the ports. The new announcement puts that $22.8 billion deal on hold. . THE IRONY Some might find what is happening to be ironic. China, long accused of being authoritarian, is using international anti-trust laws, which prevent the creation of unfair monopolies which harm global free trade by stifling competition. In contrast, the US has been using threats of invasion and economic coercion to stifle competition—as if it was running a war against free trade. The latest development also shows a key contrast between the US and China. In the US, corporations and rich organizations control Congress and its members. In China, even the wealthiest business leaders – such as Jack Ma, Li Ka-shing – cannot overrule the government. . UPPING THE ANTE China's step puts a pause of unknown length on the deal. But it also ups the ante. Up to now, the Hong Kong Chinese company has run their Panama operations according to normal global trade processes, with standard fees for using the port. In contrast, Trump administration clearly sees the port as a strategic tool. It remains to be seen how Trump responds. . FOUR CHOKEPOINTS America wants control over four of the world's key "chokepoints" for sea trade. As well as taking control of Panama, the US wants to build an alternative to the Suez Canal, running through Israel close to the Gaza strip. It also wants control over far northern sea routes, including the "northwest passage" that runs through Canada, and the Russia-China "northeast passage" that runs near Greenland. .