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Panama ditches Taiwan for Beijing

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PANAMA CITY/BEIJING (Reuters) – Panama has established diplomatic ties with China and broken with Taiwan in a major victory for Beijing, as it lures away the dwindling number of countries that have formal relations with the self-ruled island. Panamanian President Juan Carlos Varela said in a televised address on Monday that Panama was upgrading its commercial ties with China and establishing full diplomatic links with the second most important customer of its key shipping canal.

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