Chinese company postpones canal project in Nicaragua

[Zorro]

A Chinese company said Wednesday it is delaying the start of construction on a $50 billion inter-ocean canal across Nicaragua until late 2016.

China's HKND Co. got approval for environmental studies of the canal earlier this month. But on Wednesday, a company statement said that "the construction of locks and the big excavations will start toward the end of 2016."

The company gave no reason for the delay, but said that "the canal's design is currently being fine-tuned."

Nicaraguan authorities have already approved the proposed 172-mile (278-kilometer) route for the canal.

http://news.yahoo.com/chinese-company-postpones-canal-project-nicaragua-011010179.html

[Wellstone ruled]

1. No surprise,

when this idea first was announced,sounded great,and as we have seen,China is crumbling under it's own weight. Appears the good old U.S.of A has castrated the Tiger financially and now we can sit back and watch China take a few of our Bloviating Wall Street Suckers to the dust bin.