A Possible Rival to the Panama Canal
Nicaragua recently granted a 50-year concession to Hong Kong based HKND Group, led by Chinese telecom executive Wang Jing, to cut a channel between the Caribbean Sea and the waters of the Pacific. This channel would rival the Panama Canal with the added benefit that the proposed passage through Nicaragua would be wider, and leave the country well placed to capitalize on a predicted rise in global shipping over the next twenty to thirty years. The argument for the canal is that even with its current expansion, the Panama Canal will still be too small to accommodate the world's largest container ships. In addition to the canal, the HKND Group has won rights to build a railroad, two ports, an international airport and an oil pipeline.