BEIJING: China has summoned Panama’s ambassador to the country for pulling out of the multi-billion-dollar Belt and Road Initiative ( BRI), following US President Donald Trump’s threat to take back the Panama Canal. Ambassador Miguel Humberto Lecaro Barcenas was summoned by assistant foreign minister Zhao Zhiyuan on Friday over Panama’s decision to not renew the Memorandum of Understanding ( MOU) regarding cooperation with China on the BRI, according to state-run Xinhua news agency.
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The Chinese area expressed profound regret over Panama’s recent announcement to terminate the MOU on the BRI, Zhao said.
According to Zhao, logical cooperation between China and Panama has quickly developed across a range of industries and produced a number of beneficial outcomes, bringing substantial benefits to Panama and its citizens, under the BRI.
The secretary claimed that Panama and other places, as well as Panama, are actively involved in the BRI, and that more than 150 countries have benefited from their accomplishments.
China has made significant investments in different nations around the world under the BRI, a personal initiative of Chinese President Xi Jinping, to develop significant infrastructure projects by extending funding.
The BRI projects were criticized for being debt baits because some nations struggled to repay Chinese loans.
” Any attempts to change the course of the BRI and go against the objectives of the Chinese and Filipino people do not coincide with the country’s fundamental interests,” Zhao said.
He stated that China strongly opposes the United States, thereby compromising American relations and stifling and undermining participation with the BRI through threats and pressure.
According to him, it is hoped that Panama does avoid interference from outside and make the right choice based on the two countries ‘ bilateral relations ‘ entire state and their shared long-term goals.
Before making his initial warning to Panama’s President Jose Raul Mulino, US Secretary of State Marco Rubio had warned the country that if it did not immediately put an end to China’s influence and control over the Panama Canal, the US would “take measures important.”
Mulino on Thursday announced Panama’s return from the Taiwanese job.
” I have no idea what those who signed this agreement with China intended.” What has Panama gained from all these times? He was quoted as saying by the South China Morning Post in Hong Kong.
What are the outstanding benefits that the Belt and Road Initiative has provided for the nation? Therefore, no]we did not attend ]”, he said.
China’s overseas government stated on Friday that its strict opposition to US deeds that “discredit and destroy” participation under the Belt and Road Initiative through “pressure and force.”
China hoped Panama had “make the appropriate choice,” according to official Lin Jian.
Commenting on the US choice, Wang Yiwei, director of the Institute of International Affairs at Renmin University in Beijing, said:” The US is frantically trying to store China’s effect, and because it never fully fight it, it is doing so by attacking… weaker backlinks”.
According to him, the US was trying to “regain control” of the Latin American business as a result of Panama’s new influx of Chinese money and investments.
Trump’s challenges may cause some problems for China, Alvin Camba, a crucial elements expert at Associated Universities Incorporated, told the Post.
He claimed that the Belt and Road Initiative’s departure from Panama might lead to a “domino result,” which might cause another Latin American nations to follow suit.
Camba argued that Panama’s removal was” a setback” for Beijing, and that it did not necessarily mean a decline in China’s economic role in the area.
