China to build canal to rival Panama Canal

Discussion in 'Politics and News' started by networkman, Aug 29, 2013.

  1. networkman

    networkman Lifer

    Joined:
    Apr 23, 2000
    Messages:
    10,436
    Likes Received:
    0
    Nicaragua's Congress granted a 50-year concession to a little-known Chinese businessman to develop a new waterway that will rival the Panama Canal. The FT's Kathrin Hille sits down with Wang Jing, founder and chief executive of HKND, to talk about his plans and whether his US$40bn project is a front for the Chinese government's ambitions to extend its influence in the US's backyard.

    http://video.ft.com/2514556782001/China-to-build-a-rival-to-Panama-Canal/World
     
  2. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
    Staff Member

    Joined:
    Oct 30, 2000
    Messages:
    42,600
    Likes Received:
    1
    Of course it is a way for China to get a foot in the back door.

    What better place for them to invest?
     
  3. lozina

    lozina Lifer

    Joined:
    Sep 10, 2001
    Messages:
    11,710
    Likes Received:
    1
    It's a front for a secret giant nuclear missile base
     
  4. Svnla

    Svnla Lifer

    Joined:
    Nov 10, 2003
    Messages:
    13,924
    Likes Received:
    107
    I read about this story a while back.

    Look like they will use the Rio San Juan river to go to Lake Nicaragua and from there, dig a canal (about 10 to 15 miles) to reach the Pacific Ocean.

    Costa Rica will not like it because they share the same river.
     
  5. Fern

    Fern Elite Member <br> Super Moderator
    Super Moderator

    Joined:
    Sep 30, 2003
    Messages:
    26,249
    Likes Received:
    46
    We don't own the canal any more. Carter gave it away.

    What is the point of duplicating the Panama canal?

    Is it too crowded now? Are they price gouging?

    Fern
     
  6. K1052

    K1052 Lifer

    Joined:
    Aug 21, 2003
    Messages:
    23,138
    Likes Received:
    283
    The existing canal was loosing trade to larger post panamax ships going around South America for quite a while. They are building a new set of locks that will take today's larger ships, supposed to be operational in 2015.

    I suspect the Chinese plan will never come to fruition and is mostly a vanity play on the hopes of Nicaragua.
     
  7. bshole

    bshole Diamond Member

    Joined:
    Mar 12, 2013
    Messages:
    5,844
    Likes Received:
    216
    The enhancements to the Panama canal will not allow for the absolute largest ships. Perhaps the Chinese canal could serve these larger carriers.

     
  8. Franz316

    Franz316 Senior member

    Joined:
    Sep 12, 2000
    Messages:
    698
    Likes Received:
    5
    China is spreading its testicles all over the world(much like the US did in the 20th century). They are investing heavily in South America and Africa. They are also trying to get in on the Arctic oil action and tar sands in Canada. This canal plan yet another.

    I doubt it will get built but it does make their intentions clear. Seeing how they run their own country, I don't think they care about the ecological carnage they leave behind in other countries either.
     
    #8 Franz316, Aug 29, 2013
    Last edited: Aug 29, 2013
  9. EagleKeeper

    EagleKeeper Discussion Club Moderator<br>Elite Member
    Staff Member

    Joined:
    Oct 30, 2000
    Messages:
    42,600
    Likes Received:
    1
    Widen existing locks to allow larger boats; some are still not available to pass through.

    New canal for newer boats that already exist and are planned in the future.

    It takes 10-15 years to build and there were limits on how much the existing system coiuld be expanded.
     
  10. K1052

    K1052 Lifer

    Joined:
    Aug 21, 2003
    Messages:
    23,138
    Likes Received:
    283
    Further expansion of US port facilities to accommodate larger than new-panamax ships would be prohibitively expensive in the time frame suggested. Also, most of those ships won't be used on China-US routes.