$50 billion race to replace Panama canal at Nicaragua; better global trade? Increasing China global reach

It is more fun criticizing

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

Will this project (Interoceanic Corridor Isthmus of Tehuantupec) replace Panama Canal?

It is more fun criticizing Its a rail line; goods would be unloaded at the Pacific or Atlantic end, transported by rail, and then loaded at another Ship. Ships use the Panama Canal to avoid the long and perilous voyage to South America tip. But Gatun Lake at Panama canal has dried up due to drought and cannot sustain water supply to the locks. This project could still save days and the perilous voyage to South America.

Fonseca Files leak of Panama offshore accounts

It is more fun criticizing

Rizal Philippines
April 6, 2016

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From UK Telegraph - 10 things we know from Mossack Fonseca Leak

Leaked Fonseca files sparks anger


After the Bangladesh heist, there is another explosive scandal in the financial world - the Mossack  Fonseca Law firm leak of the so called Panama files. The files covered emails that cover 143 world politicians (143)  and leaders

The offshore accounts/companies has enabled such persons evade taxes and sanctions  We are all surprised:

1. National leaders with offshore wealth include Pakistan’s prime minister, Nawaz Sharif; former vice-president of Iraq, Ayad Allawi; president of the Ukraine, Petro Poroshenko and the son of Egypt’s former president, Alaa Mubarak.

Some of those included are Russian President and members supreme ruling body of the Communist Party in China.

The data gathered are results of collaborative effort of Innternational Consortium of Investigaive Journalists, German Newspaper  Suddeutsche Zeitung, and Israle Newspaper
Haaretz