Symbolic power shift as China signs $1.4 billion contract with Panama
On Tuesday, December 6, news broke that the government of Panama had awarded a $1.4 billion contract to a Chinese consortium to initiate a new infrastructure project on the Panama Canal. The new contract will allow the Chinese consortium to begin construction of a massive bridge over the Panama Canal connecting Panama City to its western suburbs. This deal comes directly after Chinese president Xi Jinping paid a visit to Panama—the first Chinese leader ever to do so—during a 4-part tour to Spain, Argentina, Panama and Portugal. President Xi’s tour overlapped with the occurrence of this year’s G20 Summit in Buenos Aires.