Panama bows down to Trump’s threats

Panama withdraws from China’s BRI project

Panama City (Panama) – After repeated threats from US President Donald Trump to take control of the Panama Canal, Panama has taken a significant step. The country has decided to withdraw from China’s Belt and Road Initiative (BRI). Panama’s President José Raúl Mulino said, ‘We will not renew the agreement after the expiration of the contract with China’s BRI project’.Thus, Panama has become the first Latin American country to pull out of China’s Belt and Road Initiative. This announcement was made by President Mulino after a meeting with U.S. Secretary of State Marco Rubio.

China promotes and funds infrastructure and development projects under its BRI project. However, critics argue that this has led to increased debt for poorer member countries. China is accused of exerting pressure on these nations to gain the desired outcomes. An example of this is Sri Lanka, a neighbouring country to India.

Mulino said that his Government will consider bringing an end to this agreement within the next 1-2 years. Panama’s previous Government had decided to participate in China’s initiative in 2017.

US President Donald Trump has demanded the return of control of the canal to the United States.

What is the BRI project ?

The Belt and Road Initiative (BRI) project, implemented by China, is a plan to connect various countries across Asia, Africa, and Europe to China through trade, investment, and infrastructure. This project is expected to enhance China’s global influence.