Bloomberg reports that Wang Jing no longer has sufficient collateral for a secured loan of the size needed to start construction of his proposed Nicaragua Canal.
Chinese ambition in recent years has been stunning, and no person outside officialdom has been more optimistic than Wang, 42, who owns 35 percent of publicly listed Beijing Xinwei Telecom Technology Group Co.
Construction will start at the end of the first quarter of next year, according to Managua and HKND, as Wang’s company is known, but that now seems in doubt. It is not the many environmentalists and other opponents who are delaying the project.