Monday April 19, 2021
  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast
Versión Español
PanAm Post
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact
No Result
View All Result
PanAm Post
No Result
View All Result

Home » 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

Adriana Peralta by Adriana Peralta
May 8, 2017

Tags: Nicaragua Canal
0
0
SHARES
0
VIEWS
FacebookTwitterTelegramWhatsapp
China-Backed Nicaragua Canal Struggles to Take Off the Ground
The canal is a ghost project. (Youtube)

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.

RelatedArticles

Three Signs That Elon Musk Has the World at His Fingertips

15 Republicans Who Voted Against Trump Are Already Facing the Consequences

February 1, 2021
Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes

Chinese Regime Silences Relatives of COVID-19 Fatalities During WHO Visit

January 29, 2021

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.

The agreement establishes that the Canal will have its own special operation team with immunity to Nicaraguan law, and Wang’s descendants will be the owners of the Canal until the year 2129. The law allows for 16 years of building time and a search for investors. Wang’s company would be required to pay Nicaragua $10 million over 10 years, though that figure is reportedly up for debate.

 

The project’s infrastructure development plan included two deepwater ports (one in each ocean), an airport, two free trade zones, a railroad, a wet canal and an oil pipeline.

The project has involved taking many economic, environmental and social risks, which have raised doubts: What would be the most efficient method for creating a canal 173 miles long? How does it affect the environment? Is Jing really the best person to contract for this project? Where would the 400,000 displaced residents live?

  • Read More: Russia Hints at Reopening Military Bases in Cuba, Vietnam

Four years after that agreement, no concrete action has been taken to begin the project. There is no Chinese investment, no new jobs, construction, no camp or land set aside. The only actions taken in the area have been 87 environmentalist protests against the Canal. One of them is Doña Francisca Ramirez.

“We do not believe in that canal, and we will not accept it,” Ramirez said. She’s asking Ortega to acknowledge his failure to repeal Law 840 and put a rest to the matter once and for all.

Wang Jing has told the media he is no longer planning to travel to Nicaragua and that government officials are forbidden to see him unless he happens to be carrying money. Wang has never shown evidence of the money needed to execute the plan.

Source: El Diario de Hoy

Tags: Nicaragua Canal
Previous Post

Donald Trump Is Missing the Importance of Government Gridlock

Next Post

Why the Santos-FARC Agreement Failed to Bring Peace to Colombia

Adriana Peralta

Adriana Peralta

Adriana Peralta is a freedom advocate from El Salvador and a @CREO_org board member. She is a PanAm Post reporter and blogger, a 2005 Ruta Quetzal scholar, a trained engineer, and an SMC University masters student in political economy. She is also a Pink Floyd fan. Follow @AdriPeraltaM.

Related Posts

Three Signs That Elon Musk Has the World at His Fingertips
News

15 Republicans Who Voted Against Trump Are Already Facing the Consequences

February 1, 2021
Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes
Asia

Chinese Regime Silences Relatives of COVID-19 Fatalities During WHO Visit

January 29, 2021
Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes
Analysis

Three Key Moments to Remind Us That the UN Is a Nest of Oppressive Regimes

January 29, 2021
Dollarization Advances in Venezuela with Debit Cards for Foreign Currency Accounts
Argentina

Argentina Drags Chile in its Bipolar Madness Over Venezuela

January 28, 2021
Dollarization Advances in Venezuela with Debit Cards for Foreign Currency Accounts
Politics

Biden forbids linking COVID-19 with China

January 28, 2021
Mexico, the Dilemma of Voting for a Comedian or an “Alleged” Rapist
News

Trump Opens Florida Office to Prepare for His Return to Political Arena

January 27, 2021
Next Post
Why the Santos-FARC Agreement Failed to Bring Peace to Colombia

Why the Santos-FARC Agreement Failed to Bring Peace to Colombia

Discussion about this post

Subscribe free and never miss another breaking story

  • Venezuela
  • Mexico
  • Colombia
  • Chile
  • Brazil
  • Argentina
  • Podcast

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

No Result
View All Result
  • Home
  • Regions
    • South America
    • North America
    • Central America
    • Caribbean
  • Politics
  • Economics
  • Opinion
  • Podcast
  • Authors
  • Contact

© 2020 PanAm Post - Design & Develop by NEW DREAM GLOBAL CORP. - Privacy policy

We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it. Privacy and Cookie Policy.