I think the real problems with this project involve transparency, which interestingly Wang mentioned repeatedly in the interview, as if to proactively counter this criticism. His though is a private company (headquartered I understand in the Cayman Islands, not China) while Ortega is nothing but secretive about money. No one really knows how the money will work (although this may be a given with any massive project like this).

But critics are mistaken to focus on either the Chinese or the environmental angle. Yes, Wang is ethnically Chinese, but it’s basically misplaced racism to assume that therefore the Chinese government is somehow involved. Yes too, there will likely be environmental issues. You can’t understake a project this massive without risking and likely causing environmental damage. But to focus on these is to miss the elephant in the room: Lots of money is being sloshed arond without much accountabilty.

Mostly though, I suspect that Ben is right. Ten or 20 years from now, it looks likely that there will be a reversal in the respective fortunes of Nicaragua and Costa Rica. Nicaragua will be the one having the immigration problems as poor Ticos flock there. I mean, Ortega is pulling off a huge project, even by world historical standards.

The sad part is how staunchly Costa Rica has refused to participate. This is after all indirectly what the Rio San Juan controversy was about. Ortega thinks development big, and is world class in his initiatives. Costa Rica thinks small and provincial. It had every opportunity to get in on this project at its inception, but instead whined and even refused to talk. Ortega handed Costa Rica a golden opportunity to get in on this project, but Costa Rica preferred to play the victim. Costa Rica will therefore pay the price in spades. Nicaragua is poised to kick economic ass while Costa Rica will be left with some partially protected wetlands where next to nobody lives or visits.

Long term, this will go down as the biggest failure of the Chinchilla adminsitation. Costa Rica had the chance to get in on a truly historic economic opportunity, but blew it. It will be left trying to woo the next Intel and resort developer while Nicaragua soars without foreign dependency.

Costa Rica lost, and time will show the magnitude of the loss.