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Trump targets Hong Kong company in world purge

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Trump targets Hong Kong company in world purge
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Trump targets Hong Kong company in world purge

2025-02-06 12:36 Last Updated At:19:43

Mark Pinkstone/Former Chief Information Officer of HK government

The American dictatorship of President Donald Trump and his sidekick, Secretary of State Marco Rubio is nothing short of a litany of lies told to Panamanian President Jose Raul Mulino to break off Belt and Road Initiative (BRI) ties with China.

Before taking over the presidency of the US, Trump told the press, “China is running the Panama Canal that was not given to China, that was given to Panama foolishly, but they violated the agreement, and we’re going to take it back, or something very powerful is going to happen,”

With that mindset, Trump sent China hawk Rubio off to Panama with the threat of taking back the canal unless the Chinese were kicked out.

The only problem with the plan is that China has never had any interest, let alone control over the Panama Canal.

A sole Hong Kong conglomerate, Hutchison Port Holdings, controlled by Hong Kong billionaire Li Ka-shing, has two ports at either end of the canal operated by its subsidiary Panama Ports Company. There are also three other ports along the canal operated by private companies, all of which are used for loading and unloading cargo and providing fuel for vessels vying the waterway. They have no control over which vessels can use the canal, nor do they collect tolls for its use. This is the responsibility of the Panama Canal Authority, whose administrator, deputy administrator, and 11-member board are selected by Panama’s government but operate independently.

Hutchison Port Holdings (PH) is the world’s largest port operator across Europe, the Americas, Asia, the Middle East, and Africa. It operates in five of the seven busiest container ports in the world, handling 13 per cent of the world's container traffic. Revenue in 2023 amounted to US$4.2 billion.

HPH has routinely topped the list of port terminal operators ever since it expanded worldwide in 1991. It currently operates nearly 300 berths across 48 important ports around the world including the Port of Barcelona, Port of Buenos Aires, Port of Busan, the Thames Port of London, and the Port of Botany (Sydney)

During his visit to Panama, Rubio wrote in a post on X that "the United States cannot, and will not, allow the Chinese Communist Party to continue with its effective and growing control over the Panama Canal area."

Trump has complained that China exerts control over the canal and charges the U.S. ships six-figure premiums to cross Panama's isthmus. The canal was built over several decades by the U.S. and completed in 1914 but handed over to Panama during the Carter administration.

Immediately after Rubio’s fleeting visit to the central American country, President Mulino said Panama would not renew participation in China’s BRI and two Panamanian lawyers filed a complaint in the country’s Supreme Court to cancel the concession of Hutchison’s two ports on the canal. Mulino also ordered an audit into the company.

Mulino, after the talks with Rubio, dismissed any immediate threat of US retaliation and reiterated Panama’s ownership of the canal. He ruled out any negotiations with the US over the canal’s control. Chinese officials, on the other hand, have expressed that they have always respected Panama’s sovereignty and have no intention of infringing on it.

The BRI, launched by China in 2013, aims to build infrastructure and improve global trade. Panama was the first Latin American country to sign on to the initiative, and as part of the scheme, a two-party Chinese-led consortium is building a US$1.3 billion bridge over the waterway.

"The announcement by President Jose Raul Mulino that Panama will allow its participation in the CCP's Belt and Road Initiative to expire is a great step forward for US -Panama relations, a free Panama Canal, and another example of POTUS (President of the United States) leadership to protect our national security and deliver prosperity for the American people," Rubio posted on X after departing the country and hailing his visit as a “great success.”

Norman Castro, one of the lawyers in the case brought before the Supreme Court, told reporters the contract "violates what the constitution says in about 10 articles."

"After a detailed analysis of the contract... we decided that an action for unconstitutionality was the appropriate means" to challenge the concession," said Julio Macias, another lawyer behind the suit.

The complaint also accuses the Hong Kong subsidiary of not paying taxes and benefits due to a series of advantages that are allegedly against the law. So far, no evidence has been offered to back up the allegations, but it will be required for the courts. Time will tell.

There were also allegations of corruption which prompted Mulino to order an investigation into the company.

Such is the strength of the venom Rubio spews up to get his way. Hopefully, the Mulino investigations and court actions will reveal the truth: that Hutchison Ports is just a bona fide company, conducting its business in a respectful and peaceful way as it does with dozens of companies around the world.

The attack on Hutchison is nothing more but a show of sinophilia paranoia by the so-called most powerful man on Earth, Donald Trump, and lacky Marco Rubio. Together, they are stalking the world like a bull in a china shop, using bullying tactics to force the world leaders to their knees in a kowtow manner.

On his Truth Social network, Trump has also claimed – without proof – that Chinese soldiers have been deployed to the canal and that “Panama is, with great speed attempting to take down the 64 per cent of signs which are written in Chinese. “They are all over the Zone,” he said.

But the “Zone” – a former American enclave bordering the canal – hasn’t existed since 1979.
Prime US TV network CNN fact-checking Trumps usual blabberings said that if the scenario Trump describes sounds like the plot of a movie, well, it was. In the 2001 movie “The Tailor of Panama,” which starred Pierce Brosnan and Geoffrey Rush, the US invaded Panama after receiving bogus intelligence that China was trying to secretly buy the canal.




Mark Pinkstone

** The blog article is the sole responsibility of the author and does not represent the position of our company. **

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Trump’s engagement in white collar terrorism

2025-04-21 12:04 Last Updated At:12:04

[9:53 am, 20/04/2025] Heidi Cheng - AsiaNet: Academics proclaim that in tariff wars there are no winners, all economies fell. True, but the current “war” is not about economics, as it started out to be, but a personal vendetta by US president Trump against China’s president Xi Jinping.

Trump started the war by imposing trade tariffs against all of its trading partners. There were no exceptions, even for those, like Hong Kong and Australia, who had deficits with the US.

Even though Hong Kong is a member of the World Trade Organisation (WTO) in its own right, Trump lumped Hong Kong under the broader China umbrella and imposed tariff hikes totalling 145 per cent against all products exported to the US. The rest of the world faced a base-line levy of 10 per cent. And this is where Trump’s plan became personal.

Trump’s plan was for the world to kowtow to him and acknowledge that he was the world’s leader. Most did, although there has not been any announcement of any deal being struck anywhere. And then came China’s Xi Jinping, who refused to kowtow, vowing to “fight to the end” and upped the ante of tariffs on US goods imported into the mainland.

Economies were floundering and markets were weak. Trump took advantage of the low market and after announcing exemptions for his billionaire club, while the rest of the population suffered, it appeared that he had made a deliberate gesture to manipulate the stock markets by declaring a 90-day pause in the tariffs. “Be cool” Trump wrote just hours before announcing the pause. “This is a great time to buy!” This was white collar terrorism in plain sight.

Global markets rose rapidly with the Hong Kong Stock Exchange up 51.17 per cent. But that bottomed out the following day amid rumors Trump was to declare martial law to police the southern border with Mexico.

The manoeuvre could have been taken from his book “How to make a deal”. Except it is not his book as he often boasts. The book was written by ghost writer Tony Schwartz who wrote in The New Yorker “Trump’s tweet that he has written bestselling books is one more deceit and delusion. He is incapable of reading a book, much less writing one.”

While Trump sits in the Oval Office contemplating how he can outsmart Xi, the Chinese president has been busy shoring up free trade deals in Vietnam, Malaysia and Cambodia. In all three South East Asian countries he was warmly greeted as a dear friend. Of the three, Vietnam is the hardest hit with a 43 per cent tax on its exports to the US.

Trump’s racist slurs against all things Chinese were compounded during the trade war when he threatened to delist Hong Kong and mainland stocks from all US exchanges – the New York Stock Exchange, Nasdaq and NYSE American. It is estimated there are 286 mainland and Hong Kong stocks with a market capitalization of US$1.1 trillion listed in the US.

And again, Trump has miscalculated his “punishment.” All companies delisted in the US will simply come to Hong Kong as their secondary and dual primary listing to raise funds and boost our Initial Public Offering (IPO) market.

Hong Kong’s financial secretary, Paul Chan Mo Po, is bullish about the outcome of the war, with Hong Kong becoming stronger as a leading fundraising hub and with enhanced trade ties with the Asia-Pacific and Middle East regions.

But Trump is not stopping there and he’s trying every possible means to curtail China’s position on the world stage. After taking over control of the Panama Canal to tax mainland and Hong Kong ships passing through the waterway, he now plans to tax every ship made in China, regardless of its registration, when they visit US ports.

The actions by Trump have done more harm to himself than to the countries he targeted. In the eyes of world leaders, he cannot be trusted and trading with him in the future will be for essentials only. The harm he has done to his country will take years to repair, and those who voted for him will surely be more prudent when the next elections come about. He has failed miserably with his campaign policy to “Make America Great Again.” He has done exactly the opposite.

[9:56 am, 20/04/2025] Heidi Cheng - AsiaNet: 社長,Pinky’s piece for your consideration. I have fine-tuned the fourth paragraph starting with “Economies were….” by adding “it appeared that he had”

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