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Step Aside Panama Canal: China To Build Nicaragua Canal, "World's Largest Infrastructure Project Ever"

Tyler Durden's picture




 

A month ago, a Nicaraguan committee approved Chinese billionaire Wang Jing's project to create The Nicaraguan Canal. With a planned capacity to accommodate ships with loaded displacement of 400,000 tons (notably bigger than The Panama Canal), the proposed 278-kilometer-long canal that will run across the Nicaragua isthmus would probably change the landscape of the world's maritime trade.

"The project is the largest infrastructure project ever in the history of man in terms of engineering difficulty, investment scale, workload and its global impact," Wang told reporters, adding that with regard the project's financing, which is around $50 billion, Wang seems quite confident, "If you can deliver, you will find all the world's money at your disposal."

Worried about conservation? Don't be: "We have 100-year concession rights, we will be responsible to ourselves, and we are there to build, not to destroy," explained Wang.

 

 

As China Global Times reports,

In the mountains and rivers of Central America, work on one of the world's largest infrastructure projects is progressing as planned, driven by Chinese billionaire Wang Jing.

 

...

 

The Nicaragua Canal, which is about four times the length of the Panama Canal, will connect the Atlantic Ocean and the Pacific Ocean upon its completion. The project is estimated to cost $50 billion.

 

"Our canal lock is 15-meter-thick, hard steel. Imagine its size. [It'll be] the world's largest," the 41-year-old Wang said.

The Nicaragua Canal project is just one of many giant infrastructure projects commenced by Chinese around the world.

There are at least another five megaprojects that are currently being planned or under construction, including the $32 billion China-Pakistan economic corridor and the $1.7 billion Baltic Pearl Project, according to media reports.

 

...

 

Wang's company secured a 50-year concession for the canal and an extension right of another 50 years.

Panama Canal competitor?

Wang said the Nicaragua Canal will be able to accommodate ships with a displacement of 400,000 tons.

 

Wang dismissed speculation that the canal he is building would become a competitor to the Panama Canal.

 

"The Panama Canal won't fit my clients' ships. After expansion, they can only accommodate ships up to 150,000 tons. But our canal offers an alternative route for those sailing across the Panama Canal," he said.

 

"The world's leading shipbuilders have already commenced research projects to design and build ships especially for the Nicaragua Canal," Wang said.

 

Analysts said that currently ships with a displacement of 400,000 tons mainly carry crude and bulk cargo  such as minerals, coal, and grains, but as trade develops, larger ships could be a trend.

Financing the $50 billion?

"If you can deliver, you will find all the world's money at your disposal," Wang said, adding that he will raise the money through combined measures of cross-shareholding, bank lending and debt issuance.

 

Wang estimates that his company could collect several billion US dollars worth of tolls on an annual basis, but he urged investors not to lose sight of the bigger picture.

 

"The canal would bring huge benefits to the world's seaborne trade. It will make large-scale, low-cost, high-efficiency trade possible, unlocking trade demand between the East and the West," Wang said.

 

"The continuously growing Chinese economy and a rising Latin America underpin a growing global maritime transport volume," Zhang Yongfeng, a Shanghai-based shipping expert, told the Global Times Monday.

Costs?

For the locals at Nicaragua, a key concern has been the man-made canal's environmental impact, particularly on the Nicaragua Lake, the largest freshwater lake in Central America.

"We have 100-year concession rights, we will be responsible to ourselves, and we are there to build, not to destroy," Wang said.

*  *  *
Time to print some more Yuan...

*  *  *
Wang concludes... when asked "Does digging a canal in the "backyard of the US" not bug you?"

"No - Free, prosperous maritime trade benefits everybody, including the US"

 

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Wed, 08/06/2014 - 21:21 | 5056890 fonzannoon
fonzannoon's picture

ghost canals....

Wed, 08/06/2014 - 21:22 | 5056900 Bangin7GramRocks
Bangin7GramRocks's picture

I CALL BULLSHIT!

Wed, 08/06/2014 - 21:30 | 5056915 LetThemEatRand
LetThemEatRand's picture

Not so sure.  All those Bennie/Paulson bucks at work.  I seem to recall they printed $750B to save the banks, much of which flowed overseas.  $50B is not even 10% of that figure.  Now, its flowing through land.

Wed, 08/06/2014 - 21:36 | 5056941 ZerOhead
ZerOhead's picture

There is a better picture plus the history of the canal that won't get built here

http://en.wikipedia.org/wiki/Nicaragua_Canal

It was origianlly Napoleon III 's plan...

Wed, 08/06/2014 - 21:38 | 5056955 Say What Again
Say What Again's picture

Does anyone know what the expected capacity for dead pigs will be on this canal?

Wed, 08/06/2014 - 21:40 | 5056966 LetThemEatRand
LetThemEatRand's picture

Are they on the beat there?

Wed, 08/06/2014 - 21:52 | 5057009 nmewn
nmewn's picture

Sic em my brother, if for no other reason than the Chinese are such great humanitarians & eco freaks...lol.

Wed, 08/06/2014 - 22:02 | 5057035 Say What Again
Say What Again's picture

Does this mean that all those refugees slipping into the US can now be diverted to work as cheap labor? 

Wed, 08/06/2014 - 22:07 | 5057059 nmewn
nmewn's picture

Not unless they're told of a big ass ditch going right through their living room ;-)

Wed, 08/06/2014 - 22:24 | 5057123 Anusocracy
Anusocracy's picture

The canal is so 20th century.

It would make more sense to build mile-long rigid airships flown by computers.

Faster, cheaper, and potentially no crew.

Wed, 08/06/2014 - 22:37 | 5057178 FMR Bankster
FMR Bankster's picture

Great plan! Place $100 million deposit, float $50 billion in bonds in the west, steal $5 billion through front companies, ect. Wish I had thought of it. Of course it would never fly if someone from Europe or the USA proposed it.

Wed, 08/06/2014 - 23:05 | 5057305 Keyser
Keyser's picture

Right, now is the perfect time to be building a canal to compete with the Panama Canal... When the Baltic Dry Ship Index is at historic lows... 

Wed, 08/06/2014 - 23:17 | 5057340 CrazyCooter
CrazyCooter's picture

Railroads made a lot of money ... but only after they took out the first few tranches of investors so to speak.

Never trust any project that is "the biggest in the world" at the height of a liquidity bubble (which happens to be the biggest in history). This shit will see funding and spending and will promptly go tits up, wiping out investors, before the execs can snort and screw all the funds.

If this project was being floated in the middle of a *depression* when everyone was expecting blonde haired, blue eyed, Hollywood Jesus to ride through the sky in his chariot of fiery judgement, THEN this project would be for realz.

Regards,

Cooter

Wed, 08/06/2014 - 23:31 | 5057385 COSMOS
COSMOS's picture

I expect the Contras to have a resurgence just like ISIS

Wed, 08/06/2014 - 23:55 | 5057441 Elvis the Pelvis
Elvis the Pelvis's picture

Keeping a billion people employed is difficult.  You gotta do something.  Bitchez.

Thu, 08/07/2014 - 00:03 | 5057464 Save_America1st
Save_America1st's picture

WATCH and LISTEN then PASS IT ON.  Excellent interview with Marine Colonel Pete Martino:  I See Something!

This is the TRUTH, "Folks"!!!

https://www.youtube.com/watch?v=OUTXnnVTInA

Thu, 08/07/2014 - 00:05 | 5057474 Four chan
Four chan's picture

thev truth is they just want to dig for gold in a massive way, keep your eye on the prize gentlemen.

Thu, 08/07/2014 - 00:34 | 5057527 Dutti
Dutti's picture

Yes we can! This is exactly the way to do it. Of course, it will soon be apparent that the $50 billion bond investment from the west will be lost if not another 50 to 150 billion will be forthcoming. Those initial western pension fund investors will then need to be bailed out by their countries taxpayers. Sounds familiar?

Fri, 08/08/2014 - 18:51 | 5067913 mkkby
mkkby's picture

Never happen.  Just another stupid chink and his fake company.  I'm surprised he didn't pick the widest part of the country.

On the other hand, if it acts like a moat keeping S Americans away from the US border, them I'm all for it.

Wed, 08/06/2014 - 22:40 | 5057196 nmewn
nmewn's picture

Kinda like a Wang-Hindenburg ;-)

Thu, 08/07/2014 - 17:11 | 5061159 Anusocracy
Anusocracy's picture

I don't think that fits with the Asian's reputation.

Wed, 08/06/2014 - 22:41 | 5057205 AldousHuxley
AldousHuxley's picture

you know Chinese have billions of people right?.....man power is cheap, computing power expensive.

Thu, 08/07/2014 - 09:57 | 5058536 Bag Of Meat
Bag Of Meat's picture

Then, Ben will have them refill the canal. Boom, super GDP growth!

Wed, 08/06/2014 - 21:53 | 5057011 LetThemEatRand
LetThemEatRand's picture

Thank our good Christian God that America never built anything that failed.

I'm no fan of China, but there was a time not long ago in American history where you could walk across Lake Erie.  At least then you could drink the water.

Cut out the tribal bullshit.  The problem is oligarchs.  The Chinese have them.  We have them.

 

Wed, 08/06/2014 - 21:55 | 5057020 Say What Again
Say What Again's picture

Are you one of God's creations? 

Wed, 08/06/2014 - 22:06 | 5057048 LetThemEatRand
LetThemEatRand's picture

I have no idea if I was created by God or by something else.  I am quite sure you don't know either, but I'm guessing you think you do.  The world is on the brink of war once again because the oligarchs are using people who are sure they know these things.

Wed, 08/06/2014 - 22:09 | 5057069 Say What Again
Say What Again's picture

God only knows -- And he aint talkin

Wed, 08/06/2014 - 23:25 | 5057365 Ignatius
Ignatius's picture

He talks to me, and for a $1000 love gift... oh, never mind.

Thu, 08/07/2014 - 00:36 | 5057536 old naughty
old naughty's picture

God created? 

Human 1.0 was wiped out by no god (yea, plenty of us believe God did it tho)...

Human 2.0 is where we are, think-less-and-less, and soon to be tranformed to Human 3.0...

Computerized laborers (or slavples).

Believe what you want, "resistance is futile" or live with heart to fight it.

They don't know what compassion is.

Wed, 08/06/2014 - 23:02 | 5057292 Greenskeeper_Carl
Greenskeeper_Carl's picture

Agreed. Religion is nothing but a means of control. A way to get people to do things they wouldn't ordinarily do, usually to fight and die in a bullshit war, and all our churches and most Christians are guilty of it. What blows my mind most about it is that so many otherwise highly intelligent and very 'awake' people still buy into it.

Wed, 08/06/2014 - 23:25 | 5057359 LetThemEatRand
LetThemEatRand's picture

Thanks for joining me on the downs on this one.   Dead on.  For fuck's sake.  There are billions of people who want to kill each other because they were born in a culture with a different religion.

Wed, 08/06/2014 - 23:43 | 5057417 Greenskeeper_Carl
Greenskeeper_Carl's picture

Ya I expect it when I say something like that. Although it has been getting worse lately. A deluge of down arrows with no response. History is filled with Christian priests giving speeches extolling the troops to fight hard for god and country, they are doing the lords work, etc. when any intelligent outside observer should be able to see that all they are fighting for is the selfish ambitions of one man or small group of men, who are typically absent from the battlefield. Same as it ever was. Just don't see why people think today is any different.

Thu, 08/07/2014 - 00:42 | 5057542 old naughty
old naughty's picture

"...born a culture with different religion..."

I am confused...Please tell me which God created those? 

Thu, 08/07/2014 - 04:14 | 5057807 conscious being
conscious being's picture

Carl, here's what I would say. Two things. You make too broad a generalization. And dig deeper. Look outside the box. Try this - what is consciousness?

Thu, 08/07/2014 - 09:13 | 5058295 sleigher
sleigher's picture

"Just don't see why people think today is any different."

Because it is today.  Just like back then it was "today" only then.  You know how people think, "those people in the past sure did silly stuff, but we are smarter now and will make the right decisions."  lol   uh huh...

Wed, 08/06/2014 - 21:56 | 5057023 jimmytorpedo
jimmytorpedo's picture

there go the freshwater dolphins,...

Ometepe used to be so nice.

I can't wait to watch the 400 000 ton ships steam by.

Wed, 08/06/2014 - 21:59 | 5057028 Say What Again
Say What Again's picture

What will this do to the surf in Costa Ricoooo?

Wed, 08/06/2014 - 23:00 | 5057282 JamesBond
JamesBond's picture

To all of the congressmen and ex-presidents who own land in Costa Ricooo, I'm sure they don't give a rat's ass.  Isn't it nice of the Chinese to increase their land value.

 

jb

Wed, 08/06/2014 - 22:05 | 5057049 ZerOhead
ZerOhead's picture

You'll just have to eat tuna instead...

Thu, 08/07/2014 - 10:54 | 5058843 FeralSerf
FeralSerf's picture

They can't be any worse than American engineers. Did you see what two airplanes did to three skyscrapers in NYC on 9/11/01?

Wed, 08/06/2014 - 21:43 | 5056976 nmewn
nmewn's picture

Only one way to find out for sure ;-)

Wed, 08/06/2014 - 21:39 | 5056959 LetThemEatRand
LetThemEatRand's picture

Seems pretty legit to me.  What really pisses me off is that we (Americans) could have built a dozen or so of these -- or done lots of other things that would be good for commerce (ordinary middle class lives) -- but instead we invested our future in the Rothschilds.

Wed, 08/06/2014 - 21:48 | 5056995 Wahooo
Wahooo's picture

Why can't we build a canal from the Atlantic to the Pacific. Then the Chinese could visit the French and the French could visit the Chinese, and we'd get all the tourism dollars. With the way the Fed is printing we could have done it by now.

Wed, 08/06/2014 - 22:05 | 5057043 Say What Again
Say What Again's picture

How about a canal along the entire southern border?  Then we can charge the immigrants a fee for the pleasure cruise.

Wed, 08/06/2014 - 22:19 | 5057102 dubbleoj
dubbleoj's picture

Construction companies are the heralds of empire expansion, what are you talking about? Halliburton, KBR, Fluor, might be famous for replacing all the windows that the military has broken, but theyve been the first to throw the rocks for decades now.  And they--as well as their less famous competitors-- will certainly be trying to get a piece of this action as well. 

Wed, 08/06/2014 - 22:13 | 5057082 CheapBastard
CheapBastard's picture

Jerry Brown toyed with the idea of building a canal from the San Diego-Mexican Border up to that there LA Safe Zone but he opted for the Bullet Rail instead.

Wed, 08/06/2014 - 21:49 | 5056999 nmewn
nmewn's picture

I thought Obama rebuilt all the bridges & roads with a trillion dollars borrowed from the Rothschilds?

Wed, 08/06/2014 - 22:41 | 5057204 knukles
knukles's picture

All dem shovah reddie jobs, motherfuckah, dat puts my peepz back to works.
I think around here we had about 2,000 signs talking about the whatevritwas posted along all the roads, bridges, etc., but the only activity was the one guy with a shovel and his 7 bosses yacking, the 2 flag fellas and a cop drawing overtime... oh and the extra pickup with a Port-A-Potty on the trailer.

Thu, 08/07/2014 - 10:45 | 5058792 Clycntct
Clycntct's picture

I hope the 2 negs were from the 2 laid off flagers and not the Portabamy guy.

Wed, 08/06/2014 - 21:57 | 5057024 ZerOhead
ZerOhead's picture

A major irrigation system for the West, energy research into thorium or fusion reactors, research into new materials and manufacturing technologies, robotics medicine genetics etc etc... woulda shoulda coulda...

Could have been world leaders in just about everything with no need to rely on global dollar hegemony for a brighter future.

Instead we let the bankers destroy the nation by financing consumption.

$1000 of societal malinvestment for every $10 of banker profit.

Fri, 08/08/2014 - 02:54 | 5063758 Tapeworm
Tapeworm's picture

@ let hem eat rand--------------

 The funny thing about all of this money(credit) creation is the size of it compared to.

 Compare it to the net income of all manufacturing companies domiciled in the USA. The credit creation whirligig dwarfs the real economy by orders of magnitude.

 The bullshit numbers use GDP that is horrendously skewed by including all of the parasititic flows from goomint and their MIC, none of which is net positive for the real economy.

Wed, 08/06/2014 - 22:31 | 5057160 KnuckleDragger-X
KnuckleDragger-X's picture

Yep, lots of BS. I read the engineering precis from the last time somebody talked about doing this and 50 billion ain't going to be nearly enough.

Thu, 08/07/2014 - 00:10 | 5057489 Antifaschistische
Antifaschistische's picture

Since there is a distinct water level difference between the Pacific and the Gulf, all they really need to do is dig a trench about 6 inches wide to conect the two bodies of water.   Gravity will dig the rest of it for you....

Thu, 08/07/2014 - 00:51 | 5057562 old naughty
old naughty's picture

Or learn how to harness electricity generated between/among planetary bodies and do the new canal in one stroke (eh, strike), no?

 

https://www.thunderbolts.info/wp/2014/07/25/monument-valley/

 

I thought we are co-creators...Sticks point skywards and slits link oceans are best we could do?

 

Wed, 08/06/2014 - 21:28 | 5056920 The_Prisoner
The_Prisoner's picture

Most people don't know, but besides walls, the Chinese have a long tradition in building canals.

http://en.wikipedia.org/wiki/Grand_Canal_(China)

Wed, 08/06/2014 - 23:07 | 5057275 Greenskeeper_Carl
Greenskeeper_Carl's picture

Great idea to build this now, with the Baltic dry index collapsing along with global trade. I seem to recall a couple articles correlating financial problems and recessions with people trying to build the next 'worlds biggest sky scrapper'. Obviously this isn't a sky scrapper, but I'd say this qualified.

Thu, 08/07/2014 - 01:04 | 5057583 americanreality
americanreality's picture

Scrapper, lol.

Thu, 08/07/2014 - 08:28 | 5058084 Greenskeeper_Carl
Greenskeeper_Carl's picture

Ha sorry. Typing on a small screen on a phone that autocorrects without me noticing sometimes.

Thu, 08/07/2014 - 00:50 | 5057560 SilverRhino
SilverRhino's picture

Idiots .... the real canal to build is to cut DEEP (supertanker sized)  access through the narrow part of THAILAND ..... no more Straits of Malacca bullshit for all those ships to go through.  

Wed, 08/06/2014 - 21:20 | 5056891 fightthepower
fightthepower's picture

This won't get done before the war.

Wed, 08/06/2014 - 21:30 | 5056927 ZerOhead
ZerOhead's picture

If it does get done it will be seized by America during the war.

Wed, 08/06/2014 - 21:33 | 5056940 Ms. Erable
Ms. Erable's picture

Cue civil unrest and terrorist insurgents file playback in 3... 2... 1...

Wed, 08/06/2014 - 22:42 | 5057210 knukles
knukles's picture

What?  In Nicaragua?

Thu, 08/07/2014 - 01:39 | 5057639 patb
patb's picture

Unless China sets up a nicaraguan canal zone with 100,000 front line troops and some serious bases,

enough to go over the hill and mess with anything the US tries to set up in Panama.

Wed, 08/06/2014 - 21:21 | 5056892 A82EBA
A82EBA's picture

Jim Willie called this two months ago

Wed, 08/06/2014 - 21:30 | 5056925 HardAssets
HardAssets's picture

Gotta do something with those US treasuries

Wed, 08/06/2014 - 21:22 | 5056898 jtz5
jtz5's picture

$50 billion for that and POMO used to be $85 billion PER MONTH.  That gives you some perspective on how crazy the Fed has been in this little experiment.

Wed, 08/06/2014 - 21:38 | 5056938 SWRichmond
SWRichmond's picture

Yes, the Fed printed 1.7 of these canals every month for years.  With no negative consequences, to hear them tell it.

Wed, 08/06/2014 - 22:12 | 5057066 ZerOhead
ZerOhead's picture

It is absolutely shocking when you think about it.

Could have been real jobs created and a valuable asset for future generations. Not many opportunites like that around.

Instead we saved the bankers.

Wed, 08/06/2014 - 22:38 | 5057186 Anusocracy
Anusocracy's picture

That's nothing.

What about the thousand million million man hours of labor wasted by government over its 10,000+ years of existence?

Wed, 08/06/2014 - 21:36 | 5056946 SofaPapa
SofaPapa's picture

Great point!

Wed, 08/06/2014 - 21:24 | 5056907 holmes
holmes's picture

Thank God. I've noticed there isn't enough Chinese crap in the stores recently.

Wed, 08/06/2014 - 21:26 | 5056911 The_Prisoner
The_Prisoner's picture

21st century's hoover dam.

If they have to keep printing money, might as well use it for real infrastructure instead of residential real estate.

Death Star is next.

 

Wed, 08/06/2014 - 21:37 | 5056953 nmewn
nmewn's picture

Yeah, I can't wait for ALF & ELF to show up and start spiking trees to stop..."progress".

I'm thinkin Wang will just have them shot ;-)

Wed, 08/06/2014 - 22:26 | 5057128 CheapBastard
CheapBastard's picture

Why is China wasting money on something useful like a canal connecting two great bodies of water when they could be sinking Billions into a bloody conflict or war half way across the globe that's none of their business? What's wrong with them?

Wed, 08/06/2014 - 22:42 | 5057207 nmewn
nmewn's picture

Free Tibetan Saltwater Fisherman Now!...lol.

Wed, 08/06/2014 - 23:11 | 5057318 knukles
knukles's picture

Ya'kno, that brings up another pet pieve of mine.  All over the fucking place out here, people have these "Free Tibet" bumper stickers.  And usually on Priuses and Volts, etc.  Like, isn't there something more constructive that these people could be spending time on?  Like obola stripping us left and right of our "rights", freeing the American Citizenry?  But oh, fucking no.  If obola were a republican, oh, you betcha there's be a rash on your dick in hell to pay for this shit, but what's the matter with people before principles?
Nothing if you're a Progressive

Forward!  At Any Cost to Anybody

Wed, 08/06/2014 - 21:28 | 5056918 dutchTender
dutchTender's picture

well ... that certainly escalated quickly ...  where is my scotch

Wed, 08/06/2014 - 21:28 | 5056919 hallywood
hallywood's picture

I thought he was building a stairway to heaven?

Wed, 08/06/2014 - 21:39 | 5056961 swmnguy
swmnguy's picture

He should just buy it.  He could, from a lady we know.

Wed, 08/06/2014 - 21:30 | 5056928 STG5IVE
STG5IVE's picture

Largest.  Infrastructure.  Project,  Ever

Wed, 08/06/2014 - 21:30 | 5056929 NoWayJose
NoWayJose's picture

That is a long way to dig. I see an abandoned partial canal and huge cost overruns. This is not easy territory.

Wed, 08/06/2014 - 21:35 | 5056942 Skateboarder
Skateboarder's picture

It looks easy on a map, so it's gotta be easy IRL.

Wed, 08/06/2014 - 21:53 | 5057008 cowdiddly
cowdiddly's picture

Em. So does the great wall of China.

Wed, 08/06/2014 - 22:17 | 5057095 pakled
pakled's picture

You know, every time I see you post it reminds of my biggest and only real disappoinemtnet in ZH....

 

... that you can't click the avatar thumbnail and view a full size image.

Wed, 08/06/2014 - 22:21 | 5057110 cowdiddly
cowdiddly's picture

For some reason every pic I have loaded here is not capable.

hope this helps lol

http://media-cache-ec0.pinimg.com/736x/3e/45/7f/3e457f4941f399eecb3606d2...

Wed, 08/06/2014 - 22:30 | 5057139 pakled
pakled's picture

LOL! Thanx for helping a brother out. And not too disappointing. I will sleep better tonight. ;>

 

It's something about TWO babes in bikinis... it's more than the sum of 1+1. 

Wed, 08/06/2014 - 23:35 | 5057392 RichardP
RichardP's picture

It's something about TWO babes in bikinis... that sets the imagination soaring.

Those are two trans-gender guys, you know.

But sleep well.

Wed, 08/06/2014 - 23:57 | 5057447 pakled
pakled's picture

LOL. You just revealed yourself. Bet you didn't even notice. You sleep well too.

Wed, 08/06/2014 - 21:30 | 5056931 novictim
novictim's picture

Capital flight from China is not taking the "slow boat". 

The only thing that is propping up China these days is bluster, bluff and the fear by international bankers that they will go down with China's ship.  So the investors and banks in the know are getting out.  When enough risk has shifted back onto the Chinese state then it is game over.

Wed, 08/06/2014 - 21:31 | 5056933 nmewn
nmewn's picture

As the Audubon Society, Greenpeace, UN and leftists remain completely silent.

(Short silt fences)

Wed, 08/06/2014 - 23:11 | 5057322 knukles
knukles's picture

Principled buncha fascists, eh?

Wed, 08/06/2014 - 23:19 | 5057345 nmewn
nmewn's picture

Yes.

With all the high minded ethics & morality that can fit into a thimble ;-)

Wed, 08/06/2014 - 21:33 | 5056939 Seasmoke
Seasmoke's picture

$50B to dig a hole. $50B to fill it back up. 

Wed, 08/06/2014 - 21:40 | 5056971 nmewn
nmewn's picture

Whats this dirt doing in Boss Keens ditch?

Wed, 08/06/2014 - 21:37 | 5056943 THE DORK OF CORK
THE DORK OF CORK's picture

A Darian scheme if ever there was one.

The new Calvinist Chinamen simply do not want to spend wealth on themselves - they want to "invest" it so as to get a yield .

http://en.wikipedia.org/wiki/Darien_scheme

 

Wed, 08/06/2014 - 21:35 | 5056945 False Capital
False Capital's picture

A 100-year concession, until it's not. With Latin American governments' penchant for nationalization, China could easily have a similar experience to the British in Suez.

Wed, 08/06/2014 - 22:07 | 5057058 Publicus
Publicus's picture

China will send over a million Chinese to secure it.

Wed, 08/06/2014 - 23:28 | 5057376 Greenskeeper_Carl
Greenskeeper_Carl's picture

Gotta do something with those millions of 'surplus' males the one child policy has created.

Thu, 08/07/2014 - 01:53 | 5057652 napper
napper's picture

It will take about 20-25 years to complete. China will probably have 20-25 aircraft carriers by then.

Thu, 08/07/2014 - 03:45 | 5057787 laomei
laomei's picture

A 400,000 ton ship or two is more than enough to deploy forces to hold it.

 

This is all for the Chinamax standard of ships, which, given historical perspective, will basically destroy the Panamax standard, as well as the post-panamax.  While shipyards in the US are gearing for post-panamax standard, expecting to see a boom in business as older ships are ripped apart, the Chinamax standard is simply far beyond what they are capable of doing.  This canal will be open for business by 2019 and the savings seen going panamax to chinamax work out to something like 25% or more.

 

The billionaire involved in this also has secured exclusive rights to tax-free ventures in the area, so he gonna be making serious bank regardless.  50 years concession, and then another added on once the canal is built.  Shipyards in Korea and China are already geared up to the standard.  Doesn't matter if you're building a Chinamax or a Suezmax, the facility that can build you your Chinamax is gonna be able to build your Suezmax for cheaper.  This nukes the US shipbuilding industry, it also fucks aussie pretty hard as Brazillian ore via Chinamax is cheaper than ore via Aussie.  End result, market pressure to cut prices on resources while developing economies benefit.

Wed, 08/06/2014 - 21:38 | 5056954 Playtime's Over
Playtime's Over's picture

Commies helping commies with dem shovel ready jobs.  Sure to bring Niggeragua to prosperity. "SARC"......That dinky Panama canal must be slowing them up. They want the ships anchored and lined up to offload MOAR crap......

Wed, 08/06/2014 - 21:41 | 5056967 Dr. Venkman
Dr. Venkman's picture

Concession rights? Does that mean the get to sell crab fries, soft pretzels, and beer to the crews passing through?

Wed, 08/06/2014 - 21:40 | 5056973 I am a Man I am...
I am a Man I am Forty's picture

So Nicaragua is China's bitch.

Wed, 08/06/2014 - 21:45 | 5056984 nmewn
nmewn's picture

Red on the noodle like a dick on a poodle...lol.

Wed, 08/06/2014 - 21:44 | 5056981 pakled
pakled's picture

And they didn't pick Miss Costa Rica, with her slightly narrower waist because... ?

Wed, 08/06/2014 - 21:47 | 5056989 nmewn
nmewn's picture

Because 25% of it is protected as sanctuary/park?

Wed, 08/06/2014 - 21:54 | 5057013 seek
seek's picture

One is commie, one is capitalist. You decide.

Wed, 08/06/2014 - 22:08 | 5057063 homiegot
homiegot's picture

There's a lake there. 

Wed, 08/06/2014 - 22:25 | 5057120 pakled
pakled's picture

Ah. Thanx for all the replies. So I finally got off my ass and looked at a google map. I have to say, there is a sweet looking skinny part well below the lake, and seems clear of the parkland (around the Gulf of Mosquitos).

 

Looks a bit mountainous though. That and the form of government may have been a deal killer early on. Be just too tempting to nationalize that canal, with its multi-billion $ year income...

Wed, 08/06/2014 - 21:45 | 5056985 arby63
arby63's picture

A year from now: 35 miles of poorly engineered ditch. What a joke.

Thu, 08/07/2014 - 03:14 | 5056998 syntaxterror
syntaxterror's picture

Please. China has the biggest bullet train network in the world. What does Barackistan have? Just a $10,000,000,000 black hole in California and no bullet train.

Where's the train you stupid liberals? How many years has it been? Oh that's right, 6 years! --"Initial funding for the project was approved by California voters on November 4, 2008"

China built their entire system in the amount time that California has spent studying the fucking thing.

Wake up sheep. You're not in any position to taunt countries that are absolutley kicking your ass.

http://www.nytimes.com/2014/08/07/us/delays-persist-for-us-high-speed-ra...

Thu, 08/07/2014 - 04:16 | 5057808 laomei
laomei's picture

The cali train project is such a fucking joke.  The amount pissed away on it so far (just planning) would have been enough for China to just come in and build it already.  But, the real issue is all the political drama involved in setting a route that makes zero fucking sense.  So in the end you get a windy twisty route that stops in every podunk shithole along the way instead of just using spurs and a feeder network.  Trains that will literally never actually hit anything resembling "high speed" once you bother averaging it out. An inflated budget that will guarantee it's either a moneyhole (ripe for attack politically) or overpriced to the point where it's just dumb (and again, ripe for political attack).  It will serve as an example that will destroy any shot the US has at actual HSR for the next half-century.

 

Once you take all that into account, and let's handwave and say it'll all work out... in the end, you get a slow shitty overpriced train that terminates in fucking retarded places which make it just as inconvenient as fucking flying in the first place.

 

A route as straight as possible, stopping in as few places as possible, with those few places acting as feeder spurs for high speed light rail from the surrounding areas.  Terminal stations located within the cities and connected to the existing metro system.  There, was that so fucking difficult?  Now you get a cheap thing that can go really fucking fast and is actually useful.  Leave it up to Murika to fuck up the most basic shit every single time.

Wed, 08/06/2014 - 21:50 | 5056990 Playtime's Over
Playtime's Over's picture

Check out the huge lake......probably less digging than Costa Rica.....dig a little inland, sail across......dig some more. Brainiacs no doubt working on the salt water intrusion proplem.

Wed, 08/06/2014 - 21:46 | 5056991 syntaxterror
syntaxterror's picture

Just wait for President Weak Vagina to sanction Nicaragua...

Wed, 08/06/2014 - 21:48 | 5056994 HeavydutyMexica...
HeavydutyMexicanOfTheNorthernKingdom's picture

it looks like daddy bush is charging too much $ to transport drugs through the panama canal and the chinese are doing an end around.

Wed, 08/06/2014 - 21:50 | 5057000 hairball48
hairball48's picture

Good for Wang Jing. I hope he succeeds.

The USA spends 100's of billions making war on people and destroying countries all over the world.

Meantime, the Chinese are spending 100's of billions investing in countries all over the world.

And we wonder why we're hated virtually everywhere. 

Duh!



Wed, 08/06/2014 - 21:49 | 5057001 alfred b.
alfred b.'s picture

 

      Will it be big enough to fit obumer's ego?

 

Thu, 08/07/2014 - 03:15 | 5057015 syntaxterror
syntaxterror's picture

He'll be in hiding deep inside Kenya when this canal is finished.

Wed, 08/06/2014 - 22:33 | 5057164 pakled
pakled's picture

You just reminded me! Huge-o canal...

 

We're gonna need some bigger boats!

 

Wed, 08/06/2014 - 21:51 | 5057005 Playtime's Over
Playtime's Over's picture

It's a reach around......he'll like that.

Wed, 08/06/2014 - 21:54 | 5057010 Atomizer
Atomizer's picture

Next up, Obama's ass sends out microwave channeling during African Summit. Any new meat baiting consestion can override anal difference in foreign policy 

New Executive Order ridder for the African Summit. 

Wed, 08/06/2014 - 21:57 | 5057025 -.-
-.-'s picture

Do not fuck with the premium cigar industry; please, China.

Wed, 08/06/2014 - 22:02 | 5057027 Rusty Shorts
Rusty Shorts's picture

 

.

 

 

George W. Bush Motorway (Completed) [HD] - Accra, Ghana 

  - *(construction sub contracted to China)

https://www.youtube.com/watch?v=L5awrAUWtk4

 

 

 

http://dilemma-x.net/2012/04/17/ghanas-capital-citys-new-highway-named-a...

 

 

Wed, 08/06/2014 - 22:20 | 5057107 nmewn
nmewn's picture

Bill and Hillary Clinton National Airport, formerly Little Rock National Airport.

In other words, something stolen.

Wed, 08/06/2014 - 22:06 | 5057047 Lanka
Lanka's picture

Its a project to foster employment for the Chinese.  They will send 20,000 to work in Nicaragua, many of which will be semi-skilled laborers.

Wed, 08/06/2014 - 23:00 | 5057281 I Write Code
I Write Code's picture

They should send 20,000,000 laborers with chopsticks.

Wed, 08/06/2014 - 22:12 | 5057056 homiegot
homiegot's picture

Boy did we fuck up.

http://www.cotf.edu/earthinfo/camerica/panama/pctopic2.html

"The United States was also interested in building an interoceanic canal. In 1887 a U.S. regiment was sent to survey Nicaragua as a possible site for the canal. The Maritime Canal Company was asked in 1889 to build a canal either in Nicaragua or Panama. Nicaragua was chosen for the canal site and construction was begun. Construction continued until 1893 when the Maritime Canal Company lost all of its funding as a result of a stock panic in the United States. At that time, all work on the canal in Nicaragua stopped. The United States, however, did not lose interest in constructing a canal. Four years later in 1897 and again in 1899, Congress appointed a Canal Commission to research the issue of locating a site for an interoceanic canal. Both Canal Commissions recommended Nicaragua for the site to build the canal."


Thu, 08/07/2014 - 02:30 | 5057688 Wild Theories
Wild Theories's picture

Thank you for the historic background read.

So Nicaragua was actually the more attractive site than panama, and it was only money and politics that landed the canal in Panama instead.

Nice to always learn something.

Wed, 08/06/2014 - 22:12 | 5057071 22winmag
22winmag's picture

That's some dumb shit.

 

Anyone with a clue knows that Malaysia's Strait of Malacca is the most important shipping lane in the world, especially where east-west trade with China is concerned, and said Strait of Malacca is one of several reasons why Malaysia is public enemy #1 to the global demon cats.

Wed, 08/06/2014 - 22:28 | 5057138 Cabreado
Cabreado's picture

Grandiosity is all the rage.
Grandiosity knows no borders, or culture, or politics... or even "economics."
The sycophancy (and desperation) which feeds and enables the grandiose isn't in touch with reality, either.

But surely if all the false wealth is spent on chopping countries and continents in two, one more time, all will be well, eventually.

Thu, 08/07/2014 - 01:02 | 5057533 Boxed Merlot
Boxed Merlot's picture

Grandiosity is all the rage…

 

85B per month of zirp frns vs a onetime 50B equivalent frn to construct a superior "non US controlled" physical transfer passageway between oceans than currently exists from a nation holding several TRILLION frns puts the US’ current vacationing executive’s historical perspective firmly in place as the most irrelevant, farcical and comically inept murderous executive assemblage of clowns to yet grace our eternal memory. 

I still remember a few years ago when Benny scolded members of the US senate when they inquired about the repercussions of postponing an interest payment on the frns owed from previous frns Ben had been conjuring up for them.  “You better not” was more or less his reply.  This, to the only agency specifically authorized and directed by our Constitution to coin money. 

This is / was the same “fed” that “owns” the stock certificates of more companies listed on US SEC regulated businesses than the sovereign citizens of the US, who not only created but are currently using and working for the firms whose “debt” they purportedly “own”. 

I would support the trying for treason any public office holder with anything other than a single US citizenship.  This would at least possibly start to reduce this kind of insanity. 

If in fact our, (the US) Constitution actually presently allows for this kind of situation to exist, it should be remedied with even greater fervency than Lincoln’s proclamation.  I might even be convinced to allow such persons the opportunity to vacate their positions beforehand.  However, if any such person after given such opportunity to vacate is then found to be in violation, to be promptly dispatched according to historical precedent as a treasonous person.

 

 

Jmo.

    

 

Wed, 08/06/2014 - 22:33 | 5057165 Buster Cherry
Buster Cherry's picture

The chinese should know that there's volcanoes in Nicaragua, which was one reason Teddy Roosevelt stole Panama away from Columbia.

I believe that's where the term "Gunboat Diplomacy" came from.

Thu, 08/07/2014 - 01:42 | 5057642 napper
napper's picture

The Chinese will take that as another investment opportunity - geothermal power plants, and daredevil tourism.

Thu, 08/07/2014 - 02:14 | 5057666 Wild Theories
Wild Theories's picture

"I believe that's where the term "Gunboat Diplomacy" came from."

 

Nope, 'Gunboat Diplomacy' was invented by the British, during the colonial era.

They would sail a single token 'flag-waver' gunboat into a foreign port hoisting the british flag and claim all rights to local trade and concessions and whatnot, if the locals accepted they would be looted and enslaved, if the locals refused the flag-waving gunboat will leave and return with an entire warfleet, and the locals would be looted and enslaved.

It was an efficient practice and allowed a small-sized nation like Britain with a limited size fleet subjugate and control a vast empire, by removing the need to station warships in every port. You only need a warfleet for every continent and a single flag-waving boat is all you need at each local port. 

Thu, 08/07/2014 - 12:48 | 5059531 libertysghost
libertysghost's picture

Colombia...not "Columbia"...I'm not nitpicking I just found it humorous because I just got back from Colombia last week...and at the airport you could buy tee-shirts that said "Colombia...NOT Columbia" ;-)

 

From the little I saw (Bogota and Melgar and stuff on the road in between) it is a beautiful country...cheap cheap cheap for us gringos...and the people were friendly and the women...well, uffffffffffff..and in Bogota the ladies make up almost 53% of the 8ish million.

Wed, 08/06/2014 - 22:36 | 5057179 JamesBond
JamesBond's picture

My Japanese wife says its going to be a disaster.  They are going to use cheap material and do it ass backwards.

But she is biased....  I think.

 

jb

Thu, 08/07/2014 - 00:35 | 5057532 sethstorm
sethstorm's picture

She's right.

Like every Chinese project, it be a boondoogle.

Wed, 08/06/2014 - 23:02 | 5057288 Duc888
Duc888's picture

 

 

Just one more thing us "Muricans can blow up.  We don't build anything anymore 'cept the shit needed to blow other shit up.

 

 

Wed, 08/06/2014 - 23:16 | 5057339 Totentänzerlied
Totentänzerlied's picture

The timing of this project combined with current Baltic Dry Index values tells me this is just another instance of malinvestment.

If we're going to play "for that much money you could do X", I'm game. For that much money you could buy a decent sized island and make it your own permanently sustainable country, complete with small defensive nuclear arsenal. Or you could colonize the moon. Or you could literally pay poor people not to have kids they can't afford. The list is just about endless.

Thu, 08/07/2014 - 01:49 | 5057627 gallistic
gallistic's picture

Totentänzerlied, not to pick on you personally, but you are the third or fourth person to state the same idea: that this canal is a bad decision because the Baltic Dry Index is currently at a low level.

This is a massive engineering project that is going to take a long time to complete (and it may not even be completed).

A long term project like this does not require the BDI to be at a certain level, it just needs to be feasible (which it is). Ideally the canal should also be profitable, but even that is not an absolute requirement for completion.

Funny thing, I wrote about this last month when I was discussing several things outside the mainstream that were flying under the radar.

I think anyone who takes a close, hard look at this canal and thinks through the implications, may at least recognize its potential as a game-changer.

Wed, 08/06/2014 - 23:17 | 5057341 potato
potato's picture

Does anybody remember a hundred years ago the USA invaded Nicaragua and occupied it for a few decades. The official purpose of that was to prevent any other country from building a competitor to the Panama Canal. This was part of the Banana Wars. 

Thu, 08/07/2014 - 10:45 | 5058794 redux2redux
redux2redux's picture

It was used as a route during the California Gold Rush by Vanderbilt.

Wed, 08/06/2014 - 23:33 | 5057388 himaroid
himaroid's picture

Oops! The first 5 million coolie labor went awol across U.S. border! Now we must send 5 million more!

Wed, 08/06/2014 - 23:35 | 5057397 delacroix
delacroix's picture

a large part of managua is still rubble, from an earthquake in the 70's.   nicaragua is the 2nd poorest country in latin america, also the 2nd safest, after uruguay. plenty of cheap labor,  healthy food and clean air. too bad they don't have any oil.

Wed, 08/06/2014 - 23:42 | 5057415 Stuck on Zero
Stuck on Zero's picture

I remember way back when the U.S. could actually build things.  Now we just hand the money to the mega-wealthy.

Thu, 08/07/2014 - 21:21 | 5057459 Salsipuedes
Salsipuedes's picture

Ometepe (and it's twin sister volcanoes Concepcion and Maderas), in the Lake of Nicaragua, is one of the most beautiful, untouched places on Earth. When I was there it was like being witness to the first day of "Creation". The Pacific exit point holds some of the best surfing breaks in Central America. This is beyond madness. Forget just saying bye bye to tourism; this is the public execution of Nicaragua itself.

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