It’s one of the great engineering achievements in history…
At 48 miles long, the Panama Canal cuts through a narrow strip of land in Central America.
It links up the Atlantic and Pacific oceans, allowing ships to pass through the landmass instead of sailing around a whole continent.
Ships pay dearly to use this shortcut… up to $375,000 for a one-way toll.
It’s worth the price. Continue reading
While the fight between Germany and Russia over Ukraine ensues, China steadily continues its own maritime agenda.
Wang Jing, the Chinese billionaire behind the plan to build a waterway across Nicaragua to rival the Panama Canal, is on an international infrastructure binge.
While Ukraine digs itself deeper into political crisis, Beijing Interoceanic Canal Investment Management (BICIM) has been quietly getting on with business. Continue reading
According to Robert Valencia, China is vying for greater economic influence in Latin America, to include possibly constructing and operating an alternative ‘Panama Canal’ through Nicaragua. One unanticipated consequence of this burgeoning US-China rivalry, Valencia observes, is that it might push Latin American countries closer together.
During the first weekend of June, U.S. President Barack Obama and Chinese President Xi Jinping met in California to discuss cyber espionage and territorial claims in the Pacific Rim. While tension on these topics has hogged the headlines, the fight for influence in another area could be even more important—Latin America. Other emerging markets in Africa, where China has an overwhelming influence due to foreign direct investment in mining and oil, also offer economic opportunities, but Latin America has an abundance of natural resources, greater purchasing power, and geographic proximity to the United States, which has long considered Latin America as its “backyard.” Continue reading
Nicaragua canal would require $40 billion and 11 years to complete. Nicaraguan president Ortega hopes to get congress to approve Chinese plan for Nicaragua canal this week.
For centuries, tycoons and adventurers alike have dreamed of building a canal through Nicaragua between the Pacific and Atlantic oceans and riding a boom in international trade to new riches. Up until now, however, all comers were forced to admit defeat when faced with the sheer challenge of building a man-made river through dense, hilly jungle. Continue reading