Latin Letter (September 2016) - Politics and principles: A man’s need to blush

The 2016 Latin American Economic Outlook, published by the United Nations and the OECD, records that China, based on 2014 statistics, is the second-biggest user of the Panama Canal after the US, accounting for 23.5% of the cargo transported.  China’s foreign direct investment in Panama, with a population of less than 4 million, has averaged USD106 million over the last few years, focusing on ports, shipping, banking and commerce.  This was all before the canal expansion project when in June two new locks came into operation which are expected to double the canal’s capacity.  The larger ships, known as “Neo-Panamax” which can now pass through the canal, are able to each carry amounts of cargo that would (approximately) require the equivalent of 18 trains, or 5,800 trucks, or 570 cargo aeroplanes.

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