09232017Headline:
5 Green Reasons Costa Rica Is the Poster Child of the Environment 4 years ago
Have You Tried Guanacaste’s Fastest Growing Sport? 4 years ago
Was Your Costa Rican Bank Account Closed? 4 years ago
Latin America Investment News on Viva Tropical

Two Canals? Nicaragua Says Yes, with Support from Russia and China

Article Summary:

Nicaragua’s plan is to build a waterway which links the Pacific and Atlantic that would carry bigger ships than the existing Panama Canal. Nicaragua is the only place in which an alternative interoceanic canal can be built and rising powerhouses Russia and China are looking to this waterway as an alternative to the Panama Canal.

Photo Credit: Press TV

Original Article Text From Press TV:

Nicaragua to construct rival interoceanic canal

The vital trade route between the Atlantic and Pacific Oceans, the Panama Canal, is unable to cope with the sustained increase in seaborne trade and growing use of ships that are too big to enter it. Now rising economic powerhouses, Russia and China, are looking to Nicaragua for an alternative.

The geographical features of Nicaragua make it perfect for this kind of project. From Alaska to the Southern most tip of South America in Tierra del Fuego the lowest elevation across the Americas is here where I am standing in Southern Nicaragua.

And after a 119 mile journey up the River San Juan into this lake, Lake Nicaragua, all that remains is for 12 miles of canal to be constructed from here to the Pacific Ocean so that ships can pass through the isthmus.

5 other possible routes are also being studied by the new commission called the Grand Interoceanic Canal Authority of Nicaragua, which has support from Russia and China.

But it is not just those countries that will benefit. So for the United States to find a better, an improved way of going from the East Coast to their West Coast and to the Asia Pacific, is very very important.

The main cause for US and European intervention in Nicaragua over the centuries has been to try to reap the benefits of the geopolitical power this kind of interoceanic canal would bring. But with this initiative firmly in the Nicaraguan government’s hands, if it is realised the prime beneficiaries will be the Nicaraguan people, who could see their country turn from one of the region’s poorest to a regional economic power.

Link to Original Article:

From Press TV

Latin America Investment News on Viva Tropical