by Clare Jim (Reuters) A Taiwanese naval “Friendship Flotilla” of warships dropped anchor in Nicaragua on Monday just weeks after China urged Taiwan’s dwindling diplomatic allies to ditch the self-ruled island in favor of Beijing. Three ships, carrying around 800 crew, arrived in El Salvador on Friday and will visit other allies in Central America, Taiwan’s Defence Ministry … [Read more...]
Nicaragua Sticks to $50 Billion Canal Plan as Setbacks Pile Up
By Michael McDonald (Bloomberg) -- Manuel Coronel Kautz isn’t a man who’s easily deterred. Good thing. Because as head of Nicaragua’s Canal Authority, he’s seen the $50 billion, Chinese-backed project suffer setback after setback. The latest: 12 months of construction delays on a key port just as financial turmoil in China deepens speculation the funding won’t come … [Read more...]
Environmental Study Highlights ‘Risks and Uncertainties’ of Nicaragua canal
MEXICO CITY, Sept 30 (Reuters) - Nicaragua's planned $50 billion canal project is "fraught with risks and uncertainties," and could cause more harm than good unless the government and its Chinese builder fund a host of mitigation measures, an environmental consultancy said. The 172-mile (278 km), Chinese-backed project to rival the Panama Canal is one of the … [Read more...]
China’s Huge (and Hard-to-Find) Canal on the Doorstep of America
By Michael McDonald (Bloomberg Business) -- Deep on the southeastern side of Lake Nicaragua, along a bumpy dirt road that climbs gently through lush-green forest, sits the tiny town of El Tule. It is quintessential rural Central America: Chickens roam outside tin- roofed homes while pigs stand tied to trees, awaiting slaughter; the sound of drunk locals singing … [Read more...]
Costa Rica Questioning Environmental Impact of Nicaragua Canal
GENEVA, June 9 (Reuters) - Costa Rica wants information from Nicaragua about the potential environmental impact of a planned $50 billion canal project that would rival the Panama Canal, Costa Rican President Luis Guillermo Solís Rivera said on Tuesday. The canal construction plan entails dredging Lake Nicaragua to almost twice its current depth. This could cause … [Read more...]