WikiLeaks cable said that China rejected Martinelli’s wish to establish relations

A US cable released by WikiLeaks says Panama wanted to switch its diplomatic recognition of Taipei to Beijing after President Ricardo Martinelli took power in 2009.

China, however, rejected the offer in order not to undermine its improving Taiwan ties.

The US Ambassador wrote in the cable that Martinelli had told her that he would recognize Beijing because "he thought that Panama's business community would benefit as a result."

Original source: Associated Press