Panama will not renew its agreement with China's Belt and Road Initiative, making it the first Latin American country to leave this program. This decision was announced by Panamanian President José Raúl Mulino after he met with Secretary of State Marco Rubio. Mulino expressed that he would consider whether the agreement could end sooner than its scheduled renewal in a year or two. This decision impacts China's influence in the region, as Panama is seen as a key location for Chinese investments near the Panama Canal.
Rubio stated that the U. S. will not allow the Chinese Communist Party to maintain its growing control in the Panama Canal area. Other countries in the region, like Brazil, had also shown interest in the Belt and Road Initiative but later pulled back due to concerns over long-term agreements with China. Italy, the first European nation to join, exited the initiative late in 2023, claiming it did not significantly support its exports to China.
Michael Sobolik from the Hudson Institute noted that Panama's exit counters recent geopolitical advances made by China in Latin America, urging other countries in the region to follow Panama's example. U. S. special envoy for Latin America, Mauricio Claver-Carone, praised Rubio's actions, suggesting it restores American credibility in foreign relations.
This shift comes amidst broader discussions within the U. S. about how to combat China's expanding influence globally and emphasizes recent efforts from the U. S. government to address international partnerships and security concerns.
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