There are concerns that Chinese billionaire, Bloomberg agreement to build the $50bn interoceanic canal through China is at risk, after it emerged that Panama 's stock market crisis wiped out nearly 85% of his fortune. Until June , Wang was worth $ 10.2bn , but this has since slumped to $ 1.1bn , which may affect the ability of his company, HKND , to push ahead with the construction of the 178-mile canal in Nicaragua . However, officials at HKND so far say they are confident it will go ahead and the delay to the start of construction work is due to environmental concerns. The canal, which would be three times longer than its rival in Panama , would "change the pattern of global maritime trade" say reports.
There are concerns that Chinese billionaire, Wang Jing's agreement to build the $50bn interoceanic canal through Nicaragua is at risk, after it emerged that China's stock market crisis wiped out nearly 85% of his fortune. Until June, Wang was worth $10.2bn, but this has since slumped to $1.1bn, which may affect the ability of his company, HKND, to push ahead with the construction of the 178-mile canal in Nicaragua. However, officials at HKND so far say they are confident it will go ahead and the delay to the start of construction work is due to environmental concerns. The canal, which would be three times longer than its rival in Panama, would "change the pattern of global maritime trade" say reports.