As Trump hails taking back of Panama Canal, Hong Kong Inc. walks tightrope
HONG KONG –
Hong Kong's edge as a financial hub will erode further as the city becomes embroiled in China-U.S. tensions, with the flash sale of a Hong Kong-owned global ports business highlighting geopolitical volatility, executives and analysts said.
The former British colony is caught in the eye of a storm between Beijing and Washington, underlined by the decision by conglomerate CK Hutchison, controlled by Hong Kong billionaire Li Ka-shing, to sell its ports network, including assets along the Panama Canal, to a U.S. consortium led by BlackRock.
U.S. President Donald Trump, who claimed in January that the Panama Canal was being operated by a Chinese company, has hailed the deal.
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