The new Nicaraguan canal will connect the Pacific and Atlantic oceans through Central America and is expected to be larger than the Panama Canal, even after the Panama Canal completes a major expansion project in 2015. The broadest impact will be felt in the commercial sphere. With a second central American canal, more transport between the Pacific and Atlantic is possible, lowering the cost of oceanic trade. The larger size of the new canal will also increase the total volume of goods shipped, further reducing shipping costs.
This size increase also means that the U.S. Navy's next generation of aircraft carriers, the Ford Class, could sail through the new canal, giving the U.S. military more flexibility in moving around the world. Provided, of course, that China is comfortable facilitating the cross-ocean travel of U.S. aircraft carriers.
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