The billionaire caught in the crossfire between America and China
Our weekly podcast on China. This week, what the fate of the Panama ports deal means for Chinese business and global maritime trade
For years China has dominated maritime trade. A number of the world’s ports are run by Chinese state-owned enterprises. Others belong to CK Hutchison (CKH), a Hong Kong conglomerate, founded by Li Ka-shing, Hong Kong’s richest man. In recent months the billionaire has found himself embroiled in a geopolitical squabble. Two of CKH’s ports are at either end of the Panama canal, a waterway that Donald Trump has demanded America “take back”. A consortium led by BlackRock is seeking to buy those ports from CKH, along with 41 others. The deal would reshape the contours of global trade—and Xi Jinping doesn’t like it.
Jeremy Page, The Economist’s Asia diplomatic editor, and Emma Irving, our Asia news editor in Hong Kong, explore how Li Ka-shing got caught in the crossfire of the China-US rivalry and ask: what does the fate of the Panama ports deal mean for the future of Chinese business and global maritime trade?
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