China Is Losing More Than Just Two Ports in Panama

The Panamanian Supreme Court’s ruling on Thursday night invalidating Hong Kong–based CK Hutchison Holdings Ltd.’s contract to operate two key ports at either end of the Panama Canal caps a month marked by high-profile strategic defeats for Beijing in the region.

The US commando operation in Caracas in early January that swiftly removed dictator Nicolás Maduro from power, for instance, was preceded by the start of tariffs of up to 50% on many Chinese exports to Mexico and followed this week by the cancellation of a Chinese consortium’s major zinc project in Bolivia.