Panama supreme court cancels Hong Kong company’s canal contracts
AI Summary
Panama's Supreme Court ruled that a concession held by a subsidiary of a Hong Kong-based company to operate ports at each end of the Panama Canal was unconstitutional. The ruling, announced on Thursday, effectively cancels the company's contracts. Panama's president stated that the canal would continue to operate as normal following the decision. The move is seen as potentially aiding US efforts to limit Chinese influence over the strategic waterway. Beijing has strongly criticized the court's decision. The ruling's impact on future operations and international relations remains to be seen.
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