Port Authority

Panama is slowly becoming American again:

In a major “victory” for the Republican, nearly all ports along the North American waterway are now under American control, according to media reports citing their sale to BlackRock, an American investment management company. The sale was undertaken by CK Hutchison Holdings Ltd., a Hong Kong-based conglomerate, which sold control of a unit that operates the ports. The sale occurred just weeks after President Trump’s declaration that the U.S. should control the Panama Canal because it essentially invested every dollar in its creation. Before the canal was constructed in 1904, cargo ships were forced to navigate thousands of miles around Cape Horn in South America in order to travel between the Pacific and Atlantic oceans. BlackRock, in a partnership with Global Infrastructure Partners and Terminal Investment Ltd., will hold an 80% stake in Hutchison Ports group, which operates 43 ports in 23 countries. Part of the deal includes selling control of 90% of Panama Ports Co., which operates two canal ports in Balboa and Cristobal. In return, CK Hutchinson will receive $19 billion, according to Bloomberg.

This is how the canal flows...