| DONALD TRUMP can't be wrong, can he?
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| | consecutive year of double-digit growth
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| Trump has fallen so much in love with
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| | in toll revenues. Tourism and financial
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| Panama that he is building a $220
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| | services also made impressive growth
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| Million, 65 story (2.4 Million square
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| | gains.
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| foot) hotel/condo monoliths called the
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| | Americans came back to Panama because of
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| Trump Ocean Club International Hotel &
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| | the excellent infrastructure built by the
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| Tower in a posh Panama City neighborhood.
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| | Americans, low crime, numerous
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| Trump will build 500 luxury condominium
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| | English-speaking natives, great
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| units along with a 312-room hotel. This
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| | Immigration Visa programs; the currency
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| complex will include a casino, private
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| | has always been the U.S. Dollar, and
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| beach club and a marina. Groundbreaking
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| | great Tax incentives.
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| is scheduled around this Christmas with a
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| | The Best Reason is that Panama is so
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| completion date in 2009.
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| | cheap to live! Land, housing, local
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| Why is Trump doing this in Panama of all
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| | foods, transportation, leather goods,
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| places? In an April 24, 2006 press
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| | clothing, and local artisan wares are all
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| conference in New York, Donald Trump said
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| | far cheaper than anywhere in North
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| his interest in Panama was sparked three
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| | America or Europe.
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| years ago when his "Miss Universe"
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| | Don't Take My Word for it. Read what
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| pageant was held in Panama. He saw that
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| | leading experts have to say about
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| Panama city was "beautiful" and vowed he
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| | Panama's real estate opportunities.
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| would develop there if the right
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| | The NY Times recently wrote: "Panama is
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| opportunity came up. His project was
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| | increasingly lighting up the radar
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| "easily funded", noting that as many as
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| | screens of those searching for an
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| seven "major financial institutions were
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| | affordable alternative to the more
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| fighting to put up money." He agreed that
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| | traditional south-of-the-border retreats
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| "Americans are coming in droves to
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| | in Mexico, Costa Rica and the Caribbean,
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| Panama," due to it's political stability,
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| | where escalating prices increasingly
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| low cost of living, low interest rates,
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| | rival those along America's own beach
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| and being located outside of any
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| | fronts."
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| hurricane path. "It's great for baby
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| | Forbes Magazine (July 11, 2005) praised
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| boomers." Trump said, although the
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| | Panama as a recommended "PARADISE FOUND:
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| project will be marketed worldwide. The
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| | WHERE TO RETIRE ABROAD" where a U.S.
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| condominium units will start at $180,000
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| | couple "purchased a lot on a hill
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| with unobstructed ocean views.
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| | overlooking a golf course and have built
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| Panama is just beginning to realize a
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| | a three-bedroom white-stucco house with a
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| real estate boom!
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| | red-tile roof (total cost: about
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| Besides Trump, many international real
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| | $250,000)." in Boquete. "You can hear the
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| estate investors are also discovering
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| | sound of rivers here," says Janet. "It's
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| Panama.
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| | very peaceful."
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| For example:
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| | National Association of Realtors: Tom
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| Bigger Than Trump: An even taller
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| | Stevens, who is their current President,
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| skyscraper will be built near Trump's
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| | recently visited Panama and explained:
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| Tower. The Ice Tower will have over 100
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| | "We're seriously thinking of investing
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| floors making it the tallest building in
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| | here. It's a great opportunity. Prices
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| all of Latin America, tied with the
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| | are what it was like in the U.S. 20 to 25
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| Empire State Building as the
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| | years ago."
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| second-tallest in the Western hemisphere
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| | The London Financial Times wrote in its
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| and 9th in the world when it is completed
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| | April 14, 2005 issue that Panama is now
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| in 2010.
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| | passing Costa Rica as the place to
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| And Another! Even before Trump's Tower
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| | invest. "Like Costa Rica, Panama is
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| and The Ice Tower are completed, another
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| | loaded with exquisite beach towns, has
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| skyscraper (93 floors) called El Palacio
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| | inviting tax and ownership policies for
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| de la Bahia will be completed in 2009
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| | foreigners and a long history of
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| costing over $160 Million. They've
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| | political stability. Moreover, Panama
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| already sold several dozen condos mostly
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| | City is an urbane, safe city that has
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| to Europeans because this is a totally
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| | long had a military and civilian US
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| European investor project.
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| | presence because of the canal. A
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| I asked a Panama City real estate
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| | gated-community, three-bedroom luxury
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| brokerage owner, Daniel Hanna (Panama
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| | home on a golf course in the mountains
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| Real Estate Group what he thought about
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| | can be had for $250,000 to $350,000, real
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| how the Ice Tower and Trump's Ocean Club
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| | estate experts say... Chuck Bedsole, who
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| will affect Panama's Real Estate prices?
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| | oversees Latin American real estate for
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| His response echoes most real estate
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| | PriceWaterhouseCoopers, thinks Panama is
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| agents in Panama: "As Panama continues to
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| | at an earlier stage in the real estate
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| grow in many different industries, these
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| | boom."
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| projects will definitely set a new
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| | Conde Nast Traveler's October 2004 issue
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| standard of living in Panama, thus
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| | declared: "Panama is the new Central
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| increasing the prices around the entire
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| | American bargain where the U.S. dollar -
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| country."
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| | the market currency - goes a long way."
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| So, why are all of these real estate
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| | Is it Safe to Buy real estate in Panama?
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| investors coming to Panama?
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| | Buying Real Estate in Panama is safe and
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| A little History will help explain these
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| | secure for foreigners. The U.S. State
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| phenomena. Panama has always had a close
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| | Dept. verifies this by stating: "Titled
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| relationship with the United States,
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| | land, and the process of buying this, is
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| which helped Panama to secede from
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| | similar in concept to that of the U.S.,
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| Colombia in 1903 and was the first
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| | and land deeds are duly recorded with the
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| country to recognize the new Republic of
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| | Public Registry..."
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| Panama. The U.S. government built the
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| | How Long Will this Boom Last? It's just
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| Panama Canal starting in 1904. Only until
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| | starting. Donald Trump hasn't even broken
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| the year 2000 did Panama actually take
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| | ground yet.
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| control of its Canal after the U.S.
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| | Daniel Hanna, the Panama City real estate
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| closed all of its military bases and
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| | broker, reiterates: "Invest in Panama
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| left. People used to jokingly refer to
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| | real estate now before the Towers are
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| Panama as the "United States of Panama"
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| | completed. Panama will become a hot real
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| due to its close ties to the U.S. After
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| | estate market because it has so many
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| the U.S. left, Panama's economy slumped.
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| | attractions than just real estate
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| Then American retirees re-discovered
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| | construction. Soon, the world will know
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| Panama as a peaceful, safe, and cheap
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| | Panama for its natural beauty, healthy
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| place to retire.
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| | climates, and charismatic people. Living
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| Economical Growth: In 2004, real estate
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| | in this beautiful country is just a
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| construction activity sprang up in
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| | benefit!"
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| different parts of the country. Mostly
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| | The National Geographic Traveler
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| retirement communities nestled amongst
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| | predicted in December of 2004: "Panama is
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| the many beautiful unoccupied beaches and
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| | now where Costa Rica was 10 years ago.
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| mountain valleys. In 2005, construction
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| | Panama is getting ready to explode."
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| permits rose by 90% while Panama's
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| | "Boom" I can hear the distant rumbling of
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| economy grew by a respectful 6.4%. The
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| | a Big Boom yet to come!
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| Panama Canal recorded its third
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