The construction of the $50 billion Nicaraguan canal will likely have an impact on Panama's economy (Panama Canal business) and certainly influence the economy of Nicaragua.

Earlier this year Bud and I went to Nicaragua on business. While there we visited some areas where the canal would have a direct impact. Talked to many residents, took a boat ride on the fresh water lake, and studied the terrain. Jobs and all the required construction materials would provide a big boost to many peoples' lives. We also witnessed how people inhabit the lake area and depend on this resource for water and food supply as well as transportation because the only way to/from their home is via a small boat.

Of the Nicaraguans with whom we talked concerning the canal, most were outspoken against, primarily for environmental reasons, as well as their water supply, impact on fishing, etc. They almost universally also felt that there was nothing that the general population could do to stop the project. Definite opinions both for and against expressed by everyone.

More or other thoughts on this maga project?

I don't think this chinese man and his company will go forward with the project. The return to break even will take too long. That's one reason for the delay he's recovering the money he lost in Panama(possible Panama?)this year. The Panamanian news outlets are following his investments here----I forgot which one had written about his huge loses in Panama.

11 minutes ago, Hil said:

I don't think this chinese man and his company will go forward with the project. The return to break even will take too long. That's one reason for the delay he's recovering the money he lost in Panama this year. The Panamanian news outlets are following his investments here----I forgot which one had written about his huge loses in Panama.

Don't remember what Panamanian projects caused him to lose money.

I stand corrected on the place he lost the money. It was NOT Panama. He lost over 9 billion on the chinese stock market (some of it probably in Panama).

http://www.theguardian.com/world/2015/oct/02/chinese-mogul-behind-nicaragua-canal-lost-85-of-his-fortune-in-stock-market

1 hour ago, Hil said:

I stand corrected on the place he lost the money. It was NOT Panama. He lost over 9 billion on the chinese stock market (some of it probably in Panama).

http://www.theguardian.com/world/2015/oct/02/chinese-mogul-behind-nicaragua-canal-lost-85-of-his-fortune-in-stock-market

 

No problem.  Thanks for the update.

Just interested in this project because of the possible financial impact for Panama as well as Nicaragua.

Don't hold your breath for the Nic canal. Remember, the failed French attempt to build the Panama canal created the biggest financial disaster in the history of France. If the driving force behind Nic is one Chinese guy, there is virtually zero chance of success. 

On ‎11‎/‎29‎/‎2015‎ ‎2‎:‎56‎:‎01‎, Marcelyn said:

Don't remember what Panamanian projects caused him to lose money.

I haven't read, heard or knew about any project or investment that company has in Panama.  As much as I can remember he lost some of his money in the China Stock Market.  He didn't have any known project or investment in this country.  

Remember that this China businessman made his money in the communication and electronic business back in China.  He is not known in the construction business and/or logistic business. 

On ‎11‎/‎30‎/‎2015‎ ‎8‎:‎45‎:‎12‎, MarkoBoquete said:

Don't hold your breath for the Nic canal. Remember, the failed French attempt to build the Panama canal created the biggest financial disaster in the history of France. If the driving force behind Nic is one Chinese guy, there is virtually zero chance of success. 

Until today there is not clear information where the money for financing this huge project will come from.   The Chinese businessman was looking for money doing some meetings with potential investors but not any news about the results. 

It is also known that behind this project are the actual President of Nicaragua and his family.   They are controlling everything and are pushing harder for this project even if there is still no clear future about investment, environmental impact, etc. 

This week the Momotombo volcano located near lake Xolotlan started with volcanic activity and have an eruption with releasing ashes in the atmosphere and lava.

http://www.elnuevodiario.com.ni/nacionales/378526-autoridades-alerta-intensa-actividad-momotombo/

For many years before the US decided to build the canal in Panama, everyone assumed that Nicaragua would be the route. Congressional votes were lined up, and it was a done deal. 

However, when TR decided he needed a canal and he needed it NOW, the Panama lobbyist used a clever trick - The Nicaraguan postage stamps of the day featured erupting volcanos. Post cards featuring the stamps were sent to every member of congress, with the simple message - why would anyone in their right mind build a canal in a place with active volcanos?

More on the subject about the financing of the project and big losses of the Chinese businessman.

http://www.centralamericadata.com/en/article/main/Grand_Canal_of_Nicaragua_Is_There_Funding?u=043eb1adfbd60c122b656e93b70a971a&s=n&e=3&mid=[MESSAGEID]