Nicaraguan National Assembly Awards Chinese Company to Build Canal

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    The Costa Rica News (TCRN) – The long planned project for a Nicaragua Canal has been on the table for nearly one hundred years, and now will become a reality with the help of China. The idea started when the United States began building the Panama Canal almost a century ago.

    The profit benefits seem clear for Nicaragua, but some wonder what China take-away is.

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    Analysts polled by BBC agreed that there may be a relative improvement in the competitiveness of their products to cheapen the cost of transport.

    Others point to the presence of China in Central and Latin America, which has increased its market share in recent years.

    Some believe it is part of a broader strategic move such as very close access to North America.

    “For China would be a geopolitical goal against the United States and a response to what Washington does, the lock alliances” in the region close to the Asian country.

    China is employing the same strategies as the U.S with its ongoing efforts to build relationships and influence in Asia, Chine is seeking to build its relationships and influence in the Americas.

    The investment to build the transoceanic canal is approximately $ 40 billion, four times the Gross Domestic Product (GDP) of Nicaragua.

    Besides the economic benefit to the country, the impact will reach the entire region especially as the Panama Canal is over loaded.

    Analysts agree that a canal in Nicaragua facilitates the passage of Chinese products to the world’s largest economy, the United States, yet Washington has been “extremely quiet”, considering the economies of the two countries account for over 33% of global GDP. Based on a report by BBC

    The Costa Rica News (TCRN)
    San Jose Costa Rica

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