[pessimizer]

It's not about rights, it's about ability. If Panama wants to trade with the US or it's vassals, it will do what the US says. China doesn't have to listen to the US, if Panama wants to defy Yellen, it can deal with China - although China may not see Panama as worth it, I don't think that tax breaks are an export that China is desperate for.

edit: think of it like this - you have the "right" to eat meat. But if I refuse to be friends with people who eat meat and you need my friendship, you can't eat meat.