Jun 21st, 2013
More than 200 years after the idea was first proposed, steps are once more being taken for the construction of a trans-Nicaraguan Canal to increase the flow of stolen, planet-destroying resources between the Atlantic and Pacific Oceans. From World War 4 Report:
Nicaragua’s President Daniel Ortega and Chinese business magnate Wang Jing on June 14 formally sealed a pact granting Wang exclusive rights to build a multi-billion-dollar inter-oceanic canal through the Central American nation—the night after the country’s National Assembly, dominated by Ortega’s Sandinista Front, voted up Law 840, a bill approving the project, by 61-25. Wang’s HK Nicaragua Canal Development Investment Co. will start with a study to determine whether the project is viable. Under the plan, the company would have a 50-year contract to develop and run the canal, with Nicaragua receiving a minority share of any profits. Ortega pledges the project will eradicate poverty in the country, one of the hemisphere’s poorest. “This is a historic day for Nicaragua… a day of fulfilling prophecies and realizing dreams,” said first lady Rosario Murillo, during the nationally televised ceremony. Murillo called it a “day of miracles” and said the canal project represents a “prophecy of prosperity for Nicaraguan families.”
“One of Nicaragua’s great riches is its geographic position,” Sandinista congressman Jacinto Suarez said during debate on Law 840. ”That’s why this idea has always been around… Global trade demands that this canal is built because it’s necessary. The data show that maritime transport is constantly growing and that makes this feasible. Opposing it is unpatriotic.”
However, Bill Wild, chief project adviser for HK Nicaragua, was more cautious in his own comments. ”There’s a compelling commercial reason to build the canal,” he said. “We have to prove now that the actual rate of return that the investors will get is adequate.” (Nicaragua Dispatch, June 15; AP, June 14)
The idea of a Nicaragua Canal actually predates plans for a Panama Canal. And as the Panama Canal completely “eradicated poverty” in that country, we can see why Nicaraguan government is so excited. Oh, wait.
The Panama Canal is, in fact, one of the most vital pieces of trade infrastructure in the world, funneling approximately 299 million tons worth of traffic per year. But as it was constructed in 1914 and only ever estimated for a maximum capacity of 80 million tons per year, the wealthy who benefit most from global trade are always searching for ways to move more goods faster. Hence ongoing plans to expand the Panama Canal and the quest for new shipping routes, such as through melting Arctic ice or the construction of another canal.