The Panama Canal is being expanded to handle larger, "Superpanamax" ships. This Nicaraguan one will handle larger still.
The US has raised the value-judgement on environmental issues so high, there are literally several harbors in the US that have been fighting legal battles to merely deepen them by 5 feet to handle Superpanamax (and not even the even larger Nicaraguan ones) for longer than it took to build the original Panama Canal.
I will be modded down by censors, but it needs to be said again and again: environmentalism has taken over from good old fashioned corruption of officials (get in the way to be paid to get back out of the way) as the grinding drag on modern society.
The economy does not care why government chooses to get in the way of anything that moves, only that it does.
I, for one, welcome our new Chinese overlords. The nation that keeps trade routes open prospers; the nation that turns to lording over its own people falters.