In a press conference, Panama's President José Raúl Mulino asserted that China holds significant dependence on Panama, especially in light of recent political tensions related to port concessions. He pointed out that a considerable amount of Chinese goods passes through the Panama Canal, emphasizing that this geographical and logistical relationship is mutually beneficial, though he insinuated that China may need Panama more than the other way around.

Mulino's comments were triggered by concerns surrounding potential retaliatory action from China after the Panamanian Supreme Court annulled the concession contract for two ports operated by a subsidiary of China's CK Hutchison. The repercussions of this annulment could have far-reaching implications for Panama's economy, particularly given that Colón Free Zone serves as a major trading hub, where a significant portion of Chinese goods are sold. The President is keenly aware of these dynamics, as they play into Panama's role in global trade networks.

Chinese Foreign Ministry spokesman Guo Jiakun stated that China is prepared to take "all necessary measures" to safeguard its interests in response to the court's decision. This threat underscores the fragility of international relations in the region, as Panama navigates its economic ties with China while also asserting its sovereignty. The situation calls for careful diplomacy to mitigate any potential fallout from these developments, given the historical significance of Panama's logistical position in global trade, particularly concerning Asian markets.