There are news that a Chinese businessman, as private individual CAAMC (inviting investors) who is building a $50 billion replacment/alternative to Panama Canal. But there are whispers that the China govt is behind or supporting the project.
The initial plan was to build a canal at Nicaragua, but was shelved when there was a volcanic erutption. The Nicaragua project promises to be better than Panama which is hounded by drought and flood problems at Lake Gatun. Canals will be deeper and wider For a while Panama was the center of travel between Pacific and Atlantic. Panama is choking and reliance on a single canal poses risk to shipping
It can turn Nicaragua as an economic hub It will generate jobs, and economic activity. The project will lift millions out of poverty
Ships shave off days and thousand of miles going around the dreaded tip of South America at Cape Horn where waves and current collide, drowning thousands of sailors and sinking hundreds of ships
Before railways, goods going to and fro US East and West Coast had to sail this perilous voyage
