Leave it to China to steal the Panama Canal's centennial thunder. Rumors of a partnership with the Nicaraguan government, and plans for a competing canal connecting its Pacific and Atlantic coasts, are picking up steam. Reports suggest the Sandinista government will give Chinese telecom tycoon Wang Jing concessions to create a canal three times the length of Panama's existing gateway. The deal would include stakes in proposed port operations, an airport, railroad, and other infrastructure developments. The price tag of the canal alone is estimated at close to $50 billion.
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