Panama last month celebrated the 110th anniversary of the opening of the Panama Canal, which in its day was one of the most expensive and dangerous infrastructure endeavors ever undertaken.

China has criticised what it called US “coercion” after Panama declined to renew a key infrastructure agreement with Beijing following Washington’s threat to take back the Panama Canal.

Donald Trump has begun his second term as president by ramping up pressure on Panama – threatening to “take back” the Panama ...