It isn’t looking good for Chinese billionaire Wang Jing and his planned $50 billion Nicaragua canal project. New financial, social and environmental concerns have cast doubt on the feasibility of the proposed interoceanic canal, and construction has now been delayed until March.
A serious national security problem is emerging in the Caribbean Basin, much neglected by Washington. Banging the final nail in the coffin of the Monroe Doctrine, Russia’s Vladimir Putin is joining China in building a trans-oceanic canal through Nicaragua, as well as a military supply facility.
MANAGUA, Nicaragua – It would be an engineering feat of gargantuan proportions – a $40 billion Chinese-built canal across Nicaragua to boost the flow of ships between the Caribbean and the Pacific.
