Nicaragua OKs rival to Panama Canal; study begins

In this June 7, 2013 photo, people push a boat into Lake Nicaragua, near Granada, Nicaragua. A multi-billion dollar Chinese plan to plow a massive rival to the Panama Canal across the middle of Nicaragua was headed for approval by the leftist-controlled National Assembly Thursday, June 13, 2013, capping a lightning-fast approval process that has provoked deep skepticism among shipping experts and intense concern among environmentalists. (AP Photo/Esteban Felix)MANAGUA, Nicaragua (AP) — In a matter of weeks, a little-known Chinese tycoon has hired some of the world's top experts in mammoth infrastructure projects and pushed through Nicaragua's congress a bill granting him the exclusive right to develop a multibillion-dollar rival to the Panama Canal.