After his premier business announced its plan to sell most of its international ships, including two at the Panama Canal, to BlackRock, Beijing billionaire Li Ka-shing was accused of “betraying all Chinese people.”
On Thursday, the Hong Kong and Macao Affairs Office ( HKMAO ) of the Chinese State Council published an article titled” Don’t be naive and senile” and demanded that the 96-year-old entrepreneur reconsider the transaction.  ,
According to the content, CK Hutchison, Li’s main business, proposed a “big deal” not just another form of business behavior, as it was revealed after US President Donald Trump called for the Panama Canal’s regaining power in January.
The author, Wang Junxi, cites comments from “many netizens” in the post, citing” the US will definitely use it for social purposes and follow its own political agenda.
” China’s shipping costs and supply chain stability will be seriously impacted if the US places “political fees” on docking limitations and raises “political surcharges”.”
Wang claims that BlackRock will become one of the world’s three largest port operators by completing approximately 10 % of the world’s container terminal capacity as a result of this exchange. The company will likely cooperate with the United States ‘ destruction plan against China, raise the cost of China’s cargo docking, and lower the market share of Chinese delivery companies.
The US may also use this deal as a design to encourage port mergers and acquisitions across the world under the influence of political pressure, handle more important ships, and use “long-arm control” to impose restrictions on Chinese ships ‘ ability to dock elsewhere, he adds.
Because of this, bloggers frequently criticized and questioned CK Hutchison and its proposed agreement, arguing that it was a deal of integrity for earnings, a disrespect for national interests and regional fairness, and a betrayal of all Chinese citizens, he continues. These empathetic emotions from users are completely natural.
According to the artist, Li should choose the right side of the conflict between China and the US.
Following the end of China’s” two sessions,” which ended on Tuesday, the post was first published by Ta Kung Pao, a pro-Beijing newspapers in Hong Kong, on Thursday. The annual meetings of the Chinese People’s Political Consultative Conference ( CPPCC ) and the National People’s Congress ( NPC ) are the” two sessions.”  ,
hefty landing payment
Trump declared that it was day for the US to retake control of the Panama Canal in his opening speech on January 20. He attributed the drafting of the Panama Canal Treaty in 1977, which assured Panama of its resumption of its maritime rights after 1999, to former US President Jimmy Carter.  ,
Trump claimed that a Chinese firm is now in charge of the Panama Canal, which has defense significance.
He claimed this because in 1997, Hutchison Port Holdings ( Hutchison Ports ), a subsidiary of the Hong Kong-listed CK Hutchison, began running the ports of Balboa and Cristobal at both ends of the Panama Canal. The US discontinued Hong Kong’s particular standing in 2020 and began treating Hong Kong businesses as Chinese.  ,  ,
The US Trade Representative ( USTR ) held a public consultation on the ongoing Section 301 investigation into China’s actions, practices, and policies that aim to dominate the maritime, logistics, and shipbuilding industries on January 21.
China-made box boats should be charged a price of up to US$ 1.5 million whenever they make calls to US ships, according to the USTR. The conversation will close on March 24.
On March 4, CK Hutchison announced it had agreed to sell to BlackRock for US$ 22.8 billion its 80 % stake in Hutchison Ports, which owns, operates, and develops 43 ports with 199 berths in 23 nations.
The United States ‘ plan to impose taxes on China-related arteries is a unilateralist strategy that goes against World Trade Organization guidelines, according to Zhou Mi, a senior research fellow at the Chinese Academy of International Trade and Economic Cooperation, who spoke to the Global Times on March 7.
” This may cause prices to go up in shipping. According to him, US businesses will probably go on this cost to the river, leading to an increase in US supply chain costs. Restricting US companies ‘ use of Chinese boats will only worsen the ship fleet imbalance and stifle the expansion of the country’s manufacturing sector.
Additionally, the Trump administration has already imposed a 10 % tariff on all Chinese imports starting on February 10 and another 10 % on March 20 in addition to the already existing 20 % tariff.
Additionally, it imposed a 25 % tariff on all imported steel and aluminum in the US on March 12 to compel American metal suppliers to set up factories.
Deng’s claim
The Kowloon coast and Hong Kong Island were given to Great Britain in 1842 by the Qing state.  ,
The Hongkong and Whampoa Dock Company ( HWD), which is currently Hutchison Ports, was founded in 1863 by two Scottish businessmen. Hutchison Whampoa, which was acquired by Li in 1979, was merged with Hutchison International Ltd in 1977.
Chinese President Deng Xiaoping told Li in a 1990 meet that Hong Kong’s freedom and autonomy may be the same for 50 years following the transfer in 1989.
But, after Chinese President Xi Jinping took company in 2012 and tightened social power in Hong Kong, things changed. Li started selling possessions in mainland China and Hong Kong.
A think tank affiliated with Xinhua published an article titled” Don’t Let Li Ka-shing Run Away” in September 2015! Li was accused of selling goods in China to make investments in Europe in the content. According to the content, Li had benefited from Beijing’s years of aid and should not withdraw all of his funds from Hong Kong.  ,
Victor Li, the elder brother of Li Ka-shing, announced in August 2016 that Cheung Kong could offer all of its properties in Hong Kong, with the exception of its Central office.
After the protests in 2019, Beijing “made best” Hong Kong’s electoral system in March 2021, removing the tycoon’s right to vote as a member of the 1,500-member Election Committee tasked with selecting the city’s following chief executive. However, China’s command now realizes that Li’s ports have a significant strategic significance in the Sino-US trade conflict.
Simon Lau, a Hong Kong critic based in Canada, claims on his YouTube channel that Li may have sold all of his ports in Panama, which indicates that he is skeptical about the long-term international trade environment. According to Lau, Li’s choice significantly irritates Beijing.
Yong Jian contributes to the Asia Times. He is a journalist from China who writes about politics, Chinese technology, and the market.  ,
Read: US-China negotiating a very real incident over the Panama Canal.