China to build a rival to Panama Canal

Nicaragua's Congress granted a 50-year concession to a little-known Chinese businessman to develop a new waterway that will rival the Panama Canal. The FT's Kathrin Hille sits down with Wang Jing, founder and chief executive of HKND, to talk about his plans and whether his US$40bn project is a front for the Chinese government's ambitions to extend its influence in the US's backyard.