Once upon a time, the Panama Canal was to be built in Nicaragua. Now, Nicaragua is floating the idea of a canal again, as set out here.
Nicaragua has announced plans to build a waterway linking the Pacific and Atlantic that would carry bigger ships than the existing Panama Canal.As noted in this Wikipedia article, Panama got the canal when lobbyists sent each U.S. Senator a Nicaragua postage stamp showing the Momotombo volcano.
President Enrique Bolanos said the new route - which would cost $18bn (£9.5bn) and take 12 years to complete - was needed for the rise in world shipping.
If built, the Inter-Oceanic Nicaragua Canal would cut time and several hundred miles off the route from China to Europe or North America.
Map showing Panama and Nicaragua
It would also carry super-ships of up to 250,000 tonnes, significantly bigger than the vessels that currently pass through Panama.
Nicaragua has long held dreams of its own canal and was considered a potential route before the Panama waterway was constructed.
UPDATE: Sharp-eyed reader JC spotted that the original stamp posted was incorrect. Proper stamp, as identified here, is now on the page.