News Summary: Nicaragua pushing Chinese canal deal

News Summary: Nicaraguan legislators push for Chinese company to build Panama Canal rival

Associated Press

RUSH JOB: Nicaragua is moving quickly on a plan to dig a Chinese-funded rival to the Panama Canal across the middle of the country, fast-tracking a proposal despite a lack of details about the $40 billion project.

THE PROPOSAL: A China-based consortium will finance the project and turn over control of the infrastructure to Nicaragua in exchange for a majority of the earnings.

BACK STORY: Proponents have said the project could double the per-capita GDP of Nicaragua, one of the poorest countries in Latin America. But critics say that nearly every key detail of the project remains a mystery.

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You