China criticized Panama’s court ruling against Hong Kong firm CK Hutchison as ‘absurd’ and ‘shameful’, leading to the start of international arbitration proceedings by the firm. The ruling annulled the contract to operate two ports on the Panama Canal, following pressure from the US. China warned Panama of political and economic consequences, while the US hailed the decision as a ‘win’. Maersk will temporarily take over port operations previously handled by CK Hutchison.
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