Nicaragua revives centuries-old canal rivalry

06/14/2013 | Quartz

Nicaragua's parliament is on track to approve a $40 billion proposal by a Chinese company to build a canal with capabilities superior to the Panama Canal. It's worth being skeptical of this proposal, Simone Foxman writes, if only because discarded and unfinished proposals for a Nicaraguan canal date to the presidency of Ulysses S. Grant, who estimated that a canal would cost $100 million even if it went over budget.

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