Thursday, April 6, 2017

Panama Regains Crown As Latin America's Fastest Growing Economy -- Expanded Canal -- Bloomberg -- April 6, 2017

Regular readers know that one of the burrs under my saddle is the slanted / shoddy / fake news reporting in The New York Times. For most recent rant, see this post from a couple of days ago. In that post I talked about The New York Times reporting on the expanded Panama Canal.

It turns out that, as predicted, the expanded Panama Canal has had a considerable effect on two countries. First, the US is going to really, really benefit from the expanded Panama Canal. With regard to LNG exports, it already has. RBN Energy has blogged about this on many occasions. Expanded cargo terminals along the Texas-Louisiana coast, and the large cargo terminals along the US east coast (e.g., South Carolina) are already taking advantage of the expanded Panama Canal.

The second country to have really benefited from the expanded canal is, of course, the country itself. A huge "thanks" to Don for sending me this link over at Bloomberg (and if it's "in Bloomberg, it must be true): Panama Seen Regaining Crown as Region's Fastest Growing Economy. Some data points:
  • increased trade through the Panama Canal will drive 5.8% growth
  • Panama will regain its crown as Latin America's fastest growing economy this year on a surge in trade through the newly-expanded canal
  • no concerns about global trade policy comments being made by President Trump 

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