China’s plan to build £25bn rival to the Panama Canal across Nicaragua

China’s plan to build £25bn rival to the Panama Canal across Nicaragua

  • In June, Nicaragua allowed Chinese businessman Wang Jing to build canal
  • Construction could begin next year and take five to six years to complete
  • Critics say it’s economically unrealistic, ecologically risky, bad for Nicaragua
  • Wang also gets string of tax-free side projects, from port, airport to pipeline
  • Deal pays Nicaragua $10m a year for 10 years, slowly transferring ownership
  • By Associated Press Reporter

Read more: http://www.dailymail.co.uk/news/article-2523188/Chinese-waterway-Nicaragua-thatll-longer-Panama-Canal.html#ixzz2nZUUAmDr
Follow us: @MailOnline on Twitter | DailyMail on Facebook

Leave a comment

Filed under World History and Global Studies

Leave a Reply Please

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s