Why Nicaragua cancelled a Chinese plan for a canal 10 years after breaking ground

Nicaragua's plan to build a waterway rivalling Panama Canal was inaugurated in 2014. The project, backed by a Chinese businessman, was cancelled on Wednesday- after a decade of controversy and no work. We explain why this ambitious project was cancelled read more The Chinese-backed canal would have bisected Lake Nicaragua, and disrupted the local ecosystem. AP The nation of Nicaragua in Central America had once embarked on an ambitious plan to construct a canal. Not just any waterway, but one rivalling the crucial Panama canal. It has been a decade since the symbolic ground-breaking of the canal. There is no…