China derides U.S. "pressure and coercion" as Panama scraps Belt and Road deal with Beijing amid canal standoff

Beijing — China on Friday lashed out at what it called U.S. "coercion" after Panama declined to renew a key infrastructure agreement with Beijing following Washington's threat to take back the Panama Canal. Foreign Ministry spokesperson Lin Jian said at a briefing that China "firmly opposes the U.S. smearing and undermining the Belt and Road cooperation through means of pressure and coercion."

The Belt and Road Initiative is President Xi Jinping's signature foreign police drive to bind China closer to countries in the region and beyond by building roads, railways, airports, power plants and other infrastructure. 

The program has completed some major projects but also raised concerns about debt and environmental impact.