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Four Years Later, China-Backed Nicaragua Canal Struggles to Take Off the Ground

Four Years Later, China-Backed Nicaragua Canal Struggles to Take Off the Ground

EspañolThe Nicaragua Interoceanic Canal project is either paralyzed, or nonexistent.

In June 2013, the Nicaraguan National Assembly passed Law 840, which authorized President of Nicaragua Daniel Ortega to transfer the responsibility of the project to Wang Jing, a little-known Chinese businessman. Since then, the country has been waiting for the project’s completion and a chance to compete with the Panama Canal.

Law 840, also known as the “Special Law for the Development of Nicaraguan Infrastructure and Transport to the Canal and Free Trade Zones,” allow for the construction of the project, which is estimated at US $50 billion.

Continue reading Four Years Later, China-Backed Nicaragua Canal Struggles to Take Off the Ground at PanAm Post.

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