Nicaragua rushes on for canal deal with Chinese

MANAGUA, Nicaragua (AP) — Nicaragua is plowing ahead with a plan to dig a Chinese-funded rival to the Panama Canal across the midriff of the country, fast-tracking a proposal through the ruling party-controlled congress despite a lack of details about the $40 billion project.

A China-based consortium says it will finance the project and turn over control of the infrastructure to Nicaragua in exchange for a majority of the earnings, which it would share with the Nicaraguan government.

Proponents have said the project could capture 4.5 percent of world maritime freight traffic and double the per-capita gross domestic product of Nicaragua, one of the poorest countries in Latin America. The canal has won the enthusiastic backing of President Daniel Ortega, whose Sandinista Front controls the national legislature with 63 out of 92 lawmakers.

looks like a pipe dream

not at all.  china have too many greenbacks.  deh have to spend it fats before it collapse

anyhow dat is what china is doing all over the place..employing its surplus for interest bearing investments in all currencies.

jess imagine when  al dem devalued greenbacks start flowing back to the USA

let them hurry up and build the damm canal.  i cyar wait

I don't understand. The proposed canal through Nicaragua is almost 5 times longer than the Panama Canal. Even the Panama Canal was prohibitively expensive.

prohibitive when america and europe build....

you see the building program going on in china...what they have arleady built over the past 10-15 years..
and their building program in Africa?

if you haven't take a look..and much cheaper than the west