Latest news with #HutchisonWhampoa
Fox News
18-04-2025
- Business
- Fox News
Why Trump is right to revitalize the Monroe Doctrine
Why are President Donald Trump and his national security team focused on Panama and Greenland? Donald Trump understands that modern threats – China's predatory mercantilism and its massive military buildup, including the ability to destroy our reconnaissance satellites in orbit – requires an urgent reinvigoration of the 200-year-old Monroe Doctrine. The Monroe Doctrine, America's fundamental national security imperative, seeks to exclude outside powers from the Western Hemisphere. It is key to protecting the U.S. and our neighbors from China's malicious designs. Trump understands that Greenland and Panama aren't merely the key in any potential conflict with China, they are key to deterring China from conflict in the first place. During WWII and the Cold War, prior to the advent of near-global real-time overhead satellite coverage, America maintained forward bases in a string from Hawaii to Alaska to Canada to Greenland to Puerto Rico to Panama. These bases hosted naval assets, electronic listening posts, early warning radars and airfields for patrol aircraft. The forward presence not only protected the American heartland, but it also served to guard the sea lanes needed for trade and to support our allies in Europe and Asia. Trump recognizes the shifting geopolitical landscape, with China's rise posing a new challenge to U.S. dominance in the Western Hemisphere – and a secure homeland. In 2019, he expressed interest in purchasing Greenland from Denmark, citing its vast natural resources and strategic Arctic location. This is more relevant than ever, with the Northwest Passage becoming increasingly accessible due in part to Russia and China's rapidly growing heavy icebreaker fleet. Similarly, Trump and Secretary of Defense Pete Hegseth are taking significant steps to secure the Panama Canal – with full cooperation from the Panamanian government. The Panama Canal is a vital artery for global trade and military logistics. But in 1997, just before Britain handed over Hong Kong to China, Hutchison Whampoa, a Hong Kong-based shipping and logistics firm, bought the concession that privatized operations of the Panama Canal. When, in 2020, China ended the "one country, two systems" model with Hong Kong, it meant for all intents and purposes that Hutchison Whampoa (now known as CK Hutchison) must do the Chinese Communist Party's bidding. This greatly increases the risk to the Panama Canal – and it's why the firm, reacting to pressure from Panama and the U.S., agreed to sell its global assets to an American holding company. That proposed sale was quickly threatened by the Chinese Communist Party, which instituted an "antitrust review." Just to be sure, the Trump White House directed the U.S. military to develop options for increasing troop presence in Panama to ensure "unfettered" access to the canal, reflecting concerns about ongoing Chinese threats to the canal's operation. The strategic importance of Greenland and Panama is heightened in the context of a potential conflict with China, particularly if America's extensive network of reconnaissance and nuclear missile early warning satellites are destroyed by China in its opening attack. Modern warfare relies heavily on satellite technology for communication, navigation and intelligence gathering. If these assets are compromised, the U.S. would need to rely on traditional methods, such as long-range patrol aircraft and naval vessels, operating from forward bases. Greenland, with its airfields and ports, provides an ideal location for staging operations in the Arctic, deploying assets like the P-8 Poseidon to monitor submarine activity and secure shipping routes. The Panama Canal, meanwhile, ensures rapid deployment of naval forces between the Atlantic and Pacific Oceans, maintaining flexibility in military operations. This focus on forward bases aligns with the need to defend the homeland and secure vital shipping lanes critical for global trade and military logistics despite enemy efforts. China's growing naval capabilities, including advanced submarines and aircraft carriers, necessitate robust strategic positioning to deter potential threats and maintain maritime routes. Historical precedents underscore the importance of forward bases in national defense. During WWII, the U.S. established the Caribbean Defense Command – forerunner to today's U.S. Southern Command – to protect the Panama Canal and monitor German U-boat activity in the Atlantic. Bases in Trinidad, Brazil and Puerto Rico were instrumental in anti-submarine warfare, ensuring the flow of supplies to Europe and preventing Axis powers from gaining a foothold in the Americas. During the Cold War, the U.S. maintained a significant military presence in Latin America to counter Soviet influence. Today, in Cuba, what's old is new again, as China has occupied and upgraded the massive Cold War-era Soviet eavesdropping base at Lourdes. From that perch, China can listen to every cellphone conversation in the American Southeast. Beyond Greenland and Panama, China's activities in the Western Hemisphere, such as its Belt and Road Initiative infrastructure projects – some serving as replenishment ports for its navy – pose a direct challenge to U.S. interests and regional security. Along with the malevolent presence of Iran's proxy, Hezbollah, and hostile regimes such as Maduro's Venezuela, Trump's team has a big task to clean up decades of neglect in the Western Hemisphere.
Yahoo
21-03-2025
- Business
- Yahoo
Factbox-CK Hutchison: a global conglomerate caught in US-China trade spat
(Reuters) - CK Hutchison, a Hong Kong-based conglomerate, agreed to sell much of its global $22.8 billion ports business that includes assets near the strategically important Panama Canal to a group led by BlackRock this month. The canal's strategic value in global trade and U.S. President Donald Trump's call to end what he describes as Chinese control over it has made the deal a flashpoint for U.S.-China trade tensions, with media reports saying Beijing was unhappy with the deal and was reviewing it for security and antitrust issues. Owned by billionaire Li Ka-shing and founded and listed in Hong Kong, CK Hutchison has a global footprint with businesses spanning from ports to telecommunication. Here is a look at its origins and current standing globally: ORIGINS Li Ka-shing established Cheung Kong Industries in 1950 at the age of 21. The tycoon acquired a controlling stake in Hutchison Whampoa nearly three decades later. Hutchison Whampoa traced its roots to a small dispensary firm in China's southern Guangzhou that was established in 1828 and a dock and repair yard operator founded on the Pearl River in 1863. Li Ka-shing carried out a major reorganisation of the business in 2015 by merging his two flagship companies, Hutchison Whampoa and Cheung Kong. This created CK Hutchison, one of Asia's largest conglomerates with a global presence. GLOBAL STANDING CK Hutchison has interests in every continent and operates in more than 50 countries, employing more than 300,000 people as of June last year. About half its operating earnings come from its telecoms and infrastructure operations, with three-quarters derived from countries and territories outside mainland China. TELECOMMUNICATIONS The telecommunications business is the group's most profitable segment and brought in a quarter of its operating profits in 2024. Its CK Hutchison Group Telecom unit handles European operations, while Indonesia, Vietnam, and Sri Lanka are under Hutchison Asia Telecommunications. Italy and the UK are the top business contributors for the European unit, while Ireland and Sweden are the fastest growing markets. Three, its telecom brand, operates in eight countries including Ireland, Britain, Austria, and Sweden. Hutch in Sri Lanka and Vietnamobile in Vietnam are the prominent Asia brands. INFRASTRUCTURE The group's infrastructure operations are anchored by CK Infrastructure (CKI) and contributed just under a quarter of its operating profits in 2024, making this segment the second-largest profit earner. CK Infrastructure manages a wide range of assets across energy, transport, water infrastructure, waste management, and other related businesses across the world. Its interests include UK Power Networks, Northern Gas Networks, and Canadian Power. It is the largest foreign infrastructure investor in Australia, and also invests in toll roads and bridges in China, and infrastructure materials in Hong Kong. CKI holds the largest stake in Power Assets Holdings which supplies electricity and gas to millions of consumers across continents. PORTS AND RELATED SERVICES The group's sprawling maritime empire extends across 24 countries, with interests in 53 ports and 295 berths. These include container terminals in five of the world's 10 busiest ports. CK Hutchison's busiest ports include Shenzhen's deep water Yantian port, Mingdong and Pudong terminals in Shanghai, Hong Kong's Kwai Tsing Port, container terminals in Belgium, Germany, and the Netherlands, and Westports Malaysia. But the network of ports and terminals is at the centre of increasing geopolitical sensitivities surrounding critical trade infrastructure. If the deal with the BlackRock-led group goes through, that consortium will secure control of 43 ports comprising 199 berths in 23 countries. CK Hutchison, meanwhile, will maintain stakes in three of the world's top 10 busiest container ports. RETAIL The conglomerate is a major player in the global health and beauty landscape with an expansive footprint of nearly 17,000 stores across 30 markets worldwide. Retail contributed 20% to the group's operating earnings in 2024. AS Watson, which owes its lineage to the old Guangzhou dispensary, has a diverse portfolio spanning personal care, health and beauty products, food and fine wines, and consumer electronics and electrical appliances. Its notable brands include health and beauty retailers Watsons, Rossmann, and Superdrug, as well as the Hong Kong-based supermarket chain PARKnSHOP. FINANCE & INVESTMENTS, OTHERS The finance and investment portfolio serves as a strategic complement to CK Hutchinson's core operations, accounting for less than a fifth of its operating earnings. It manages substantial cash reserves and liquid investments while overseeing a number of partially-owned enterprises spanning multiple sectors. Sign in to access your portfolio
Reuters
20-03-2025
- Business
- Reuters
CK Hutchison: a global conglomerate caught in US-China trade spat
March 20 (Reuters) - CK Hutchison ( opens new tab, a Hong Kong-based conglomerate, agreed to sell much of its global $22.8 billion ports business that includes assets near the strategically important Panama Canal to a group led by BlackRock (BLK.N), opens new tab this month. The canal's strategic value in global trade and U.S. President Donald Trump's call to end what he describes as Chinese control over it has made the deal a flashpoint for U.S.-China trade tensions, with media reports, opens new tab saying Beijing was unhappy, opens new tab with the deal and was reviewing it for security and antitrust issues. Owned by billionaire Li Ka-shing and founded and listed in Hong Kong, CK Hutchison has a global footprint with businesses spanning from ports to telecommunication. Here is a look at its origins and current standing globally: ORIGINS Li Ka-shing established Cheung Kong Industries in 1950 at the age of 21. The tycoon acquired a controlling stake in Hutchison Whampoa nearly three decades later, opens new tab. Hutchison Whampoa traced its roots to a small dispensary firm in China's southern Guangzhou that was established in 1828 and a dock and repair yard operator founded on the Pearl River in 1863. Li Ka-shing carried out a major reorganisation of the business in 2015 by merging his two flagship companies, Hutchison Whampoa and Cheung Kong. This created CK Hutchison, one of Asia's largest conglomerates with a global presence. GLOBAL STANDING CK Hutchison has interests in every continent and operates in more than 50 countries, employing more than 300,000 people as of June, opens new tab last year. About half its operating earnings come from its telecoms and infrastructure operations, with three-quarters derived from countries and territories outside mainland China. TELECOMMUNICATIONS The telecommunications business is the group's most profitable segment and brought in a quarter of its operating profits in 2024, opens new tab. Its CK Hutchison Group Telecom unit handles European operations, while Indonesia, Vietnam, and Sri Lanka are under Hutchison Asia Telecommunications. Italy and the UK are the top business contributors for the European unit, while Ireland and Sweden are the fastest growing markets. Three, its telecom brand, operates in eight countries including Ireland, Britain, Austria, and Sweden. Hutch in Sri Lanka and Vietnamobile in Vietnam are the prominent Asia brands. INFRASTRUCTURE The group's infrastructure operations are anchored by CK Infrastructure ( opens new tab (CKI) and contributed just under a quarter of its operating profits in 2024, making this segment the second-largest profit earner. CK Infrastructure manages a wide range of assets across energy, transport, water infrastructure, waste management, and other related businesses across the world. Its interests include UK Power Networks, Northern Gas Networks, and Canadian Power. It is the largest foreign infrastructure investor in Australia, and also invests in toll roads and bridges in China, and infrastructure materials in Hong Kong. CKI holds the largest stake in Power Assets Holdings ( opens new tab which supplies electricity and gas to millions of consumers across continents. PORTS AND RELATED SERVICES The group's sprawling maritime empire, opens new tab extends across 24 countries, with interests in 53 ports and 295 berths. These include container terminals in five of the world's 10 busiest ports. CK Hutchison's busiest ports include Shenzhen's deep water Yantian port, Mingdong and Pudong terminals in Shanghai, Hong Kong's Kwai Tsing Port, container terminals in Belgium, Germany, and the Netherlands, and Westports Malaysia. But the network of ports and terminals is at the centre of increasing geopolitical sensitivities surrounding critical trade infrastructure. If the deal with the BlackRock-led group goes through, that consortium will secure control of 43 ports comprising 199 berths in 23 countries. CK Hutchison, meanwhile, will maintain stakes in three of the world's top 10 busiest container ports. RETAIL The conglomerate is a major player in the global health and beauty landscape with an expansive footprint of nearly 17,000 stores across 30 markets worldwide. Retail contributed 20% to the group's operating earnings in 2024. AS Watson, which owes its lineage to the old Guangzhou dispensary, has a diverse portfolio spanning personal care, health and beauty products, food and fine wines, and consumer electronics and electrical appliances. Its notable brands include health and beauty retailers Watsons, Rossmann, and Superdrug, as well as the Hong Kong-based supermarket chain PARKnSHOP. FINANCE & INVESTMENTS, OTHERS The finance and investment portfolio serves as a strategic complement to CK Hutchinson's core operations, accounting for less than a fifth of its operating earnings. It manages substantial cash reserves and liquid investments while overseeing a number of partially-owned enterprises spanning multiple sectors.
Yahoo
11-02-2025
- Politics
- Yahoo
Opinion - Trump should be using this heavy-handed diplomacy against adversaries, not allies
When the USS Wisconsin, a battleship, passed through the Panama Canal in 1957 on its last cruise to South America, with several hundred of us Navy ROTC midshipmen aboard, the only issue was the scraping of the protective fenders as the ship squeezed its wide berth through the channel, with barely a foot to spare on each side. Danger from hostile action was inconceivable, as the entire canal was under U.S. control. Today, the Navy no longer operates battleships, but its cruisers, destroyers, amphibious ships and submarines use the canal to move elements of its fleet between the Atlantic and Pacific Oceans, rather than taking the much longer route around South America. For U.S. national security, it is an absolutely vital waterway, especially in times of conflict. In the 1960s and 1970s, a series of violent street protests against the U.S. presence in Panama by 'opposition groups including the Communists' put pressure on both governments. In 1977, President Jimmy Carter negotiated transfer of the canal to the newly created Panamanian state. The conditions of the treaty provided that the U.S., traditionally the largest user, would continue to 'manage, operate, and maintain the Panama Canal' until the end of 1999, when it came under Panamanian ownership and control. Almost immediately, China began financing infrastructure improvements to the canal, and a Chinese-controlled company — Hutchison Whampoa of Hong Kong — succeeded in winning contracts to operate ports at both entry points. Panama was once one of 30 countries that maintained diplomatic relations with Taiwan despite Chinese political pressure and economic incentives to terminate them and switch recognition to China. One by one over the years, most countries yielded to China's threats and bribes. Panama succumbed in 2017. The threat to U.S. national security is obvious: in an international crisis or conflict involving the U.S. or its allies, China could close the canal and prevent the U.S. Navy from moving military assets between the Atlantic and Pacific Oceans. Even in a time of relative peace, China can use its massive embedded infrastructure along the canal to eavesdrop and intercept sensitive U.S. communications. President Trump has long recognized the danger; he correctly complained after his reelection, 'We didn't give it to China. We gave it to Panama, and we're taking it back.' He was not subtle or diplomatic in his goal of reasserting control over the canal, refusing to rule out military action. He sent Secretary of State Marco Rubio to discuss the issue with Panama during his trip to bolster U.S. relations with several countries in Central and South America. The visit has already borne some fruit, as the Panamanian government agreed to monitor more closely and curb China's activities; to decline extension of the China-controlled port operator's contract; and to end participation in China's Belt and Road program. Rubio had only positive things to say about his meeting with Panamanian officials and America's longstanding close ties with the Panamanian people. It did not hurt that, as the first U.S. secretary of State of Hispanic origin, he spoke in fluent Spanish. Trump also speaks two languages — harsh and harsher. But it is entirely possible that he is employing a good cop-bad cop routine, where his bluster and threats strengthen Rubio's more temperate diplomatic hand. Trump touts his success at using a tough opening negotiating position to extract concessions that achieve or at least advance his goals. He cited his recent threats of tariffs against Colombia to gain concessions on allowing flights of deported illegal migrants that it originally refused to consider, and Mexico's belated commitment to dispatch soldiers to patrol the U.S. border. The glow over successful Panama negotiations was short-lived, however, as the U.S. objective there shifted from security concerns to finances — specifically, the fees charged to U.S. shipping, which Trump has complained were unfairly higher for U.S. vessels. Panamanian officials denied the charge and insisted that all ships paid at the same rates, but it turned out that was the problem: Trump wants preferential treatment, with no fees at all. Given America's security commitment to the canal, the president called it 'ridiculous' that we should pay anything. Rubio agreed, saying, 'I find it absurd that we should have to pay fees to transit a zone that we have an obligation to protect in a time of conflict.' After his meeting, the State Department said Panama would now waive fees for U.S. ships passing through the canal. The strongly pro-American Panamanian president, Jose Raul Mulino, erupted in anger at what he called 'U.S. lies and falsehoods,' denying he had ever agreed to such a waiver. Now, Rubio will have to do some serious damage control. The Trump administration needs to figure out the proper balance between coercion and diplomacy, and how it affects international respect for the U.S. Speaking loudly while wielding a big stick is having mixed results on Panama, and with Greenland, Denmark and Canada. The toughness is better applied to U.S. adversaries like China, Russia, North Korea and Iran. Joseph Bosco served as China country director for the secretary of Defense from 2005 to 2006 and as Asia-Pacific director of humanitarian assistance and disaster relief from 2009 to 2010. He is a nonresident fellow at the Institute for Corean-American Studies, a member of the advisory board of the Global Taiwan Institute and member of the advisory board of The Vandenberg Coalition. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The Hill
11-02-2025
- Politics
- The Hill
Trump should be using this heavy-handed diplomacy against adversaries, not allies
When the USS Wisconsin, a battleship, passed through the Panama Canal in 1957 on its last cruise to South America, with several hundred of us Navy ROTC midshipmen aboard, the only issue was the scraping of the protective fenders as the ship squeezed its wide berth through the channel, with barely a foot to spare on each side. Danger from hostile action was inconceivable, as the entire canal was under U.S. control. Today, the Navy no longer operates battleships, but its cruisers, destroyers, amphibious ships and submarines use the canal to move elements of its fleet between the Atlantic and Pacific Oceans, rather than taking the much longer route around South America. For U.S. national security, it is an absolutely vital waterway, especially in times of conflict. In the 1960s and 1970s, a series of violent street protests against the U.S. presence in Panama by ' opposition groups including the Communists ' put pressure on both governments. In 1977, President Jimmy Carter negotiated transfer of the canal to the newly created Panamanian state. The conditions of the treaty provided that the U.S., traditionally the largest user, would continue to 'manage, operate, and maintain the Panama Canal' until the end of 1999, when it came under Panamanian ownership and control. Almost immediately, China began financing infrastructure improvements to the canal, and a Chinese-controlled company — Hutchison Whampoa of Hong Kong — succeeded in winning contracts to operate ports at both entry points. Panama was once one of 30 countries that maintained diplomatic relations with Taiwan despite Chinese political pressure and economic incentives to terminate them and switch recognition to China. One by one over the years, most countries yielded to China's threats and bribes. Panama succumbed in 2017. The threat to U.S. national security is obvious: in an international crisis or conflict involving the U.S. or its allies, China could close the canal and prevent the U.S. Navy from moving military assets between the Atlantic and Pacific Oceans. Even in a time of relative peace, China can use its massive embedded infrastructure along the canal to eavesdrop and intercept sensitive U.S. communications. President Trump has long recognized the danger; he correctly complained after his reelection, 'We didn't give it to China. We gave it to Panama, and we're taking it back.' He was not subtle or diplomatic in his goal of reasserting control over the canal, refusing to rule out military action. He sent Secretary of State Marco Rubio to discuss the issue with Panama during his trip to bolster U.S. relations with several countries in Central and South America. The visit has already borne some fruit, as the Panamanian government agreed to monitor more closely and curb China's activities; to decline extension of the China-controlled port operator's contract; and to end participation in China's Belt and Road program. Rubio had only positive things to say about his meeting with Panamanian officials and America's longstanding close ties with the Panamanian people. It did not hurt that, as the first U.S. secretary of State of Hispanic origin, he spoke in fluent Spanish. Trump also speaks two languages — harsh and harsher. But it is entirely possible that he is employing a good cop-bad cop routine, where his bluster and threats strengthen Rubio's more temperate diplomatic hand. Trump touts his success at using a tough opening negotiating position to extract concessions that achieve or at least advance his goals. He cited his recent threats of tariffs against Colombia to gain concessions on allowing flights of deported illegal migrants that it originally refused to consider, and Mexico's belated commitment to dispatch soldiers to patrol the U.S. border. The glow over successful Panama negotiations was short-lived, however, as the U.S. objective there shifted from security concerns to finances — specifically, the fees charged to U.S. shipping, which Trump has complained were unfairly higher for U.S. vessels. Panamanian officials denied the charge and insisted that all ships paid at the same rates, but it turned out that was the problem: Trump wants preferential treatment, with no fees at all. Given America's security commitment to the canal, the president called it 'ridiculous' that we should pay anything. Rubio agreed, saying, ' I find it absurd that we should have to pay fees to transit a zone that we have an obligation to protect in a time of conflict.' After his meeting, the State Department said Panama would now waive fees for U.S. ships passing through the canal. The strongly pro-American Panamanian president, Jose Raul Mulino, erupted in anger at what he called 'U.S. lies and falsehoods, ' denying he had ever agreed to such a waiver. Now, Rubio will have to do some serious damage control. The Trump administration needs to figure out the proper balance between coercion and diplomacy, and how it affects international respect for the U.S. Speaking loudly while wielding a big stick is having mixed results on Panama, and with Greenland, Denmark and Canada. The toughness is better applied to U.S. adversaries like China, Russia, North Korea and Iran. Joseph Bosco served as China country director for the secretary of Defense from 2005 to 2006 and as Asia-Pacific director of humanitarian assistance and disaster relief from 2009 to 2010. He is a nonresident fellow at the Institute for Corean-American Studies, a member of the advisory board of the Global Taiwan Institute and member of the advisory board of The Vandenberg Coalition.
