China has expressed “deep regret” over Panama’s withdrawal from the Belt and Road Initiative, a major infrastructure project initiated by Beijing. The decision comes amid strong pressure from the United States, which had been pushing the Latin American country to reconsider its participation in the project.
Panama’s President José Raúl Mulino announced his intention to withdraw with just 90 days’ notice, sparking questions about what benefits the Belt and Road Initiative has brought to the country. The move is seen as a significant blow to Beijing’s efforts to expand its global influence.
The withdrawal was likely prompted by US Secretary of State Marco Rubio’s recent visit to Panama, during which he expressed concern about China’s growing influence over the Panama Canal.
Source: https://www.scmp.com/news/china/diplomacy/article/3297916/china-protests-over-panamas-withdrawal-belt-and-road-initiative