World leaders rolled their eyes when President Trump kicked off his second term by threatening to take back the Panama Canal. Yet within weeks a massive sale put the waterway’s biggest ports and dozens of others in American hands—reshaping the global shipping business.
BlackRock BLK -3.34%decrease; red down pointing triangle, the world’s largest asset manager, last week said it was leading a consortium that would pay $22.8 billion to buy more than 40 ports around the world, including crucial berths on either end of the Panama Canal, from Hong Kong-based CK Hutchison 1 0.60%increase; green up pointing triangle, controlled by one of Asia’s richest men.
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