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 by Staff Writers Panama City (AFP) Dec 5, 2018
The government of Panama awarded Tuesday a Chinese consortium a $1.4 billion contract to build a bridge over the Panama Canal, a day after a visit by President Xi Jinping. That tour was part of China's efforts to extend its political and economic influence in Latin America. "Panama is moving ahead in its relations with China and without a doubt this project that begins its construction today is part of that message and trust between the two countries," Panamanian President Juan Carlos Varela said. The order will allow a consortium called Panama Cuarto Puente, composed of China Communications Construction Company (CCCC) and its unit China Harbour Engineering Company (CHEC), to design and build a bridge over the Panama Canal. The group outbid companies from Spain, Italy, South Korea and China. It will be one of the largest construction projects in Panamanian history. During his visit Xi and Varela signed a score of infrastructure, tourism and development cooperation agreements as Panama became the first Latin American country to partner with Beijing's giant multi-billion dollar "Belt and Road" development initiative.
US wants 'concrete' trade action from China within 90 days Washington (AFP) Dec 3, 2018 The United States said Monday it will need to see "something concrete" from China in the next 90 days to build a real agreement on trade, two days after Donald Trump and Xi Jinping called a truce in the escalating confrontation between the two economic powerhouses. Treasury Secretary Steven Mnuchin said on CNBC the US and China had held "very specific discussions" in Buenos Aires on Saturday evening on steps to defuse their conflict, which involves hundreds of billions in bilateral trade and had roi ... read more
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