China bets on new trade routes in Central America
Betting on a new generation of big ships to transform world trade, China, which has courted Latin America with $100 billion of trade credits and investments, is eyeing new and faster routes to Asia via rival canal projects in the region.
An eight-year, $5.3 billion expansion of the 100-year-old Panama Canal is nearing completion to facilitate passage of 21st century ships that can carry more than double the loads of today’s vessels. But even before that project is complete, Beijing, the canal’s second-biggest customer, is considering work to make it bigger still.
Source: Financial Times