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Nicaragua Announces Start of China-backed Canal to Rival Panama

Nicaragua on Monday announced the start of work on a $50 billion shipping canal, an infrastructure project backed by China that aims to rival Panama's waterway and revitalize the economy of the second-poorest country in the Americas. The groundbreaking was largely symbolic, as work began on a road designed to accommodate machinery needed to build a port for the canal on the Central American country's Pacific coast. Nicaragua's government says the proposed 172-mile (278-km)...

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