Good, this is.
Nicaragua Plows Ahead With Chinese-Funded Panama Canal Rival
MANAGUA, Nicaragua – Fast-tracking a proposal through the ruling party-controlled Congress despite a lack of details about the $40 billion project, Nicaragua is moving ahead with a plan to dig a Chinese-funded rival to the Panama Canal across the midriff of the country.
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.
Thai Canal Project (One Rendition)
Yale Environment 360 and Chinadialogue article on environmental impacts
