This article centers on the landmark $22.8 billion divestment by Hong Kong’s CK Hutchison Holdings—selling 90% of its Panama Ports Company stake—and analyzes the strategic rationale behind Li Ka-shing’s move in light of geopolitical risk and portfolio management; it then reviews the Panama Canal’s development and handover journey from Spain’s first 1534 expedition to Panama’s 1999 sovereignty transfer, illustrating its profound impact on global shipping; next, it outlines how during the 1989 “Operation Just Cause” U.S. forces marshaled nearly 30,000 troops and, for the first time in combat, deployed the F-117A stealth bomber to destroy twenty-seven key targets within 24 hours, reshaping Panama’s political landscape; it also delves into the F-117A’s faceted airframe, radar-absorbent coatings, and stealth-enhanced intakes, and highlights its performance in the 1991 Gulf War—where, despite comprising only 2% of sorties, it executed 40% of strategic strikes; finally, it poses the question: had the Li family held onto its port assets, might Panama’s history at this vital chokepoint have unfolded differently?
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