Li Ka-shing, a Hong Kong tycoon and one of China’s most prominent business leaders, has been criticized by Beijing for selling his company’s global ports, including two at the Panama Canal, to BlackRock. The deal worth $22.8 billion is expected to give BlackRock control over 10.4% of the world’s container terminal throughput.
The Chinese government claims that this transaction will harm China’s interests and undermine its global influence. It alleges that the US will use this deal as a pretext to push for mergers and acquisitions of ports worldwide, squeezing out Chinese shipping companies and increasing logistics costs.
Li Ka-shing has faced criticism from Beijing in the past for his business dealings and perceived disloyalty. The government claims that he is “betraying all Chinese people” by prioritizing profits over national interests.
The deal comes as tensions between China and the US are escalating, with the Trump administration imposing tariffs on Chinese goods and restricting Chinese companies’ access to US ports. Li Ka-shing’s decision has sparked concerns about the long-term impact of this trade war on global trade and economic stability.
Source: https://asiatimes.com/2025/03/beijing-calls-li-ka-shing-a-traitor-in-panama-ports-deal