(Source: The Guardian, June 6, 2013)
LONDON — Nicaragua has awarded a Chinese company a 100-year concession to build an alternative to the Panama Canal, in a step that looks set to have profound geopolitical ramifications. The president of the country’s national assembly, Rene Nuñez, announced the $40bn project, which will reinforce Beijing’s growing influence on global trade and weaken US dominance over the key shipping route between the Pacific and Atlantic oceans.
Full story: The Guardian