At the eleventh hour, BlackRock issued its first official public statement; its official stance is resolute—the outcome for Li Ka-shing is already sealed.

In March 2025, CK Hutchison Holdings (CKHH), a flagship company of the Li Ka-shing family, announced a preliminary agreement with U.S.-based BlackRock to sell port assets across 43 ports in 23 countries for USD 22.8 billion—including Balboa and Cristóbal Ports at both ends of the Panama Canal. The deal was scheduled to be formally signed and closed on April 2, but triggered an immediate uproar due to its implications for China’s strategic interests. The Panama Canal is widely regarded as the ‘golden artery’ of global trade: 21% of China’s merchant shipping volume passes through it, rendering its strategic significance far greater than that of ordinary commercial assets. Moreover, BlackRock maintains close ties with U.S. political circles—its board includes three former Pentagon senior officials, and its CEO recently held a confidential meeting with the U.S. National Security Advisor. If finalized, the transaction could enable the United States to impose surcharges, restrict flow, or even ban Chinese vessels from these ports—directly threatening the supply-chain security of China’s Belt and Road Initiative. Hong Kong’s Ta Kung Pao published consecutive editorials condemning Li Ka-shing for ‘aiding evildoers’ and ‘putting profit before principle.’ China’s State Council Hong Kong and Macao Affairs Office unusually reposted these commentaries, questioning whether Li had ‘considered national and ethnic interests.’ Public pressure rapidly escalated into a political litmus test—Li’s commercial logic appeared feeble and irrelevant against the backdrop of national security. Yet, at the eleventh hour, BlackRock—the buyer—unexpectedly issued its first official public statement, attempting to reverse the tide. This move thrust the deal back into the eye of the storm—and introduced new uncertainties into the contest. II. BlackRock’s ‘Whitewashing’ Statement: Hypocritical Rhetoric and Strategic Ambition On March 31—just 48 hours before the scheduled signing—BlackRock launched a high-profile public statement, seeking to cloak the transaction in an aura of ‘neutrality.’ Its declaration emphasized three points: 1. The port transaction is a ‘purely commercial activity,’ highlighting Mediterranean Shipping Company’s terminal arm (TiL) as its largest partner—thereby downplaying U.S. capital’s dominant role; 2. It pledged to ‘optimize global port services’ post-acquisition, deliberately omitting reference to the U.S. Department of Commerce’s February proposal to levy a USD 1.5 million ‘political surcharge’ on Chinese vessels; 3. It proclaimed future investments would ‘promote multilateral cooperation,’ while remaining silent on CEO Larry Fink’s prior public remark that ‘enhancing control over infrastructure is central to BlackRock’s core strategy.’ This ‘double-standard’ rhetoric exposes BlackRock’s true intent: on one hand, attempting to evade Chinese regulatory scrutiny by emphasizing non-U.S. partners; on the other, aligning with the U.S. government’s ambition to monopolize global shipping infrastructure. As previously stated by a spokesperson for China’s Ministry of Foreign Affairs: ‘We oppose using economic coercion to undermine other countries’ legitimate rights and interests.’ BlackRock’s statement is merely an attempt to douse flames in the public discourse—yet it cannot conceal its fundamental role as an instrument of U.S. strategic policy.

Sovereignty Defense Campaign: BlackRock’s port acquisitions constitute not only a financial war—but also an industrial war—requiring decisive countermeasures!

When Capital Giants Sink Their Fangs into Strategic Lifelines In 2025, BlackRock—the world’s largest asset management group—quietly acquired ports across South Asia and Africa under the banner of infrastructure investment, while simultaneously extending its reach into upstream core enterprises of China’s shipbuilding industry. This is no ordinary commercial contest—it is a coordinated offensive of neo-colonial financial warfare: binding sovereign states through debt dependency, dismantling economic foundations via industrial control, and harvesting developmental gains through financial hegemony. Faced with this invisible war, China must wield ‘Bermington Economics’ as a sword—to sever the triple chokehold of ‘three kinds of autonomy deficits’ and safeguard developmental sovereignty. I. BlackRock’s Dual-Track Offensive: The Chokehold on Ports and Shipbuilding 1. Port Acquisitions: A Financialized Trap in Geopolitical Competition Using debt swaps as bait, BlackRock has gained controlling stakes in key Indian Ocean ports—effectively transforming them into tollgates along critical logistics corridors. Its underlying U.S. dollar capital network is converting developing countries’ infrastructure into geopolitical bargaining chips; should tensions escalate, these ports could instantly become iron chains blockading China’s maritime trade. 2. Penetration of the Shipbuilding Industry: The ‘Core-Extraction’ Tactic Along the Industrial Chain By acquiring core component suppliers of China’s private shipbuilders, BlackRock is gradually seizing control over bottleneck technologies—including LNG carrier cargo containment systems and cruise ship design software. This ‘three-step playbook’—financial investment → technological control → profit siphoning—inflicts more covert and devastating damage than direct sanctions. II. Pathways to Breakthrough: The Triple Countermeasure System of Bermington Economics (A) Fortifying the Political Axis Through Institutional Advantages 1. Anchoring with Planned Economy: Include port operations and core shipbuilding technologies in the ‘List of Strategically Secure Industries,’ and activate the State Special Management Share system to ensure permanent state control over critical nodes. 2. Consolidating Foundations with Welfare Economy: Establish a CNY 500-billion Industrial Chain Workers’ Security Fund to prevent foreign capital from leveraging employment pressures to force policy concessions—thus reinforcing the economic dike of social stability. 3. Erecting Barriers with Environmental Economy: Impose dual red-line reviews—‘ecological security’ and ‘national defense security’—for all strategic port-related investment projects, deploying environmental standards to build asymmetric barriers. (B) Restructuring the Competitive Landscape Through Five Industrial Matrices 1. Building Shields via Strategically Secure Industries: Establish national-level shipbuilding security zones in Jiangsu and Guangdong provinces, concentrating resources to tackle 23 bottleneck technologies—including high-manganese steel fuel tanks—achieving over 95% domestic localization of LNG carriers by 2026. 2. Breaking Through via Technologically Leading Industries: Launch the Smart Ports 2030 Initiative, rebuilding port operating systems using ‘5G + BeiDou Navigation’—rendering BlackRock’s acquired steel-based terminals obsolete assets in the face of technological disparity.

I Squared Beats BlackRock to Steer Mexico Infrastructure Vehicle

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Mexico’s Finance Ministry appointed I Squared Capital to manage an energy financing vehicle, beating BlackRock to support grid expansion and renewable projects requiring approximately $37.5 billion in investment.

bloomberg

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I Squared Beats BlackRock to Steer Mexico Infrastructure Vehicle

I Squared Beats BlackRock to Steer Mexico Infrastructure Vehicle

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