Really?
Unless you rewrite history US build the Canal in 1911 and US had a 100 year lease on it. In late 70's Carter gave the lease up long before it expired, he did not even get a bunch of bananas as a compensation.
Instead of us still being in control of this important strategic point today, the Chicoms control it.
" Instead of us still being in control of this important strategic point today, the Chicoms control it."
they don't control anything, unless balboa and cristobal ports through a chinese/HK company count. Have you ever been to either of these ports since HW started running them?
also I am fairly certain you are wrong on the 100 year lease - the US owned the canal zone as sovreign 'in perpetuity.'
the issue in the late 90's for the US was loss of Howard AFB with some secondary facility issues as well (JOTB lost its fort as well). 'Protecting' a ditch with 3 lock-sets in the age of modern warfare and asymetrical warfare is a very different proposition than it was in the 1940's.