Despite Criticism from China, CK Hutchison Defends the Sale of Panama’s Balboa and Cristobal Ports
The conglomerate’s president, pictured below, Víctor Li, affirmed that the agreement with the BlackRock-led consortium for the sale of the ports of Balboa and Cristóbal, in the Panama Canal area, “complies with current regulations.”
CK Hutchison President Victor Li said Thursday, May 22, that the company must be prepared to face “growing geopolitical tensions” and defended the legality of the group’s operation to sell two Panamanian ports, which drew strong criticism from China. Li stressed that tariff policies and geopolitics are creating an uncertain environment, making it difficult for him to predict the direction of the global economy. “Hong Kong is facing a stress test,” he said, emphasizing the importance of “holding cash and reducing borrowing during difficult times.”
