Global economy
Global economy
Global Economy
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Beijing’s efforts to expand its influence in the country have faced several obstacles due to American pressure.
By Vivian Wang
Reporting from Beijing
There has been talk of a high-speed rail line that China would build in Panama. A new metro line in Panama City. A container port.
China has been drawing on its ties and influence in Panama for years, as part of its broader ambition to expand its presence in Latin America. The effort has had some successes, but also many failures.
In 2017, China scored a major victory when Panama cut diplomatic ties with Taiwan, the self-governing island that China claims as its territory, and recognized Beijing instead. Panama had been one of the few countries worldwide to recognize Taiwan as a sovereign state.
The following year, Panama became the first Latin American country to sign up for the Belt and Road Initiative, Chinese leader Xi Jinping’s flagship global infrastructure program, which aims to increase China’s geopolitical influence and counter American influence. .
A wave of ambitious promises followed. China has proposed building a 250-mile high-speed rail line between Panama City, the capital, and the western border with Costa Rica. He showed up to help build a new metro line in Panama City. A consortium of Chinese companies, led by the Landbridge conglomerate, began to design a container port that will be the most modern in Panama.
A Chinese state-owned company also won a $1.4 billion contract to build a fourth bridge over the Panama Canal. Eventually, the two countries said they would negotiate a free-trade agreement.
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