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Panama won't renew its deal with China's Belt and Road Initiative, favoring new U.S. investment instead.
Panama's President José Raúl Mulino announced that the country will not renew its 2017 memorandum of understanding with China to join the Belt and Road Initiative, following a meeting with U.S. Secretary of State Marco Rubio.
The decision addresses U.S. concerns over China's influence near the Panama Canal, which remains under Panama's sovereignty.
Panama plans to explore new investment opportunities with the U.S.
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Panamá no renovará su acuerdo con la Iniciativa de Cinturón y Carretera de China, favoreciendo en su lugar la nueva inversión estadounidense.