China Opens $10 Billion Shipping Canal to Southeast Asia in Big Win for CCP
The Chinese Communist Party has chalked up a major win for its Belt and Road Initiative, opening a massive shipping canal that will connect swaths of the country to trade routes in Southeast Asia.
TL;DR
- The Pinglu Canal has officially opened, connecting the Xijiang River to the Gulf of Tonkin.
- The 83-mile waterway will shorten traditional shipping routes by hundreds of miles.
- Logistical costs are expected to be significantly reduced.
- This opening is a major win for China's Belt and Road Initiative.