Manuel Coronel Kautz isn't a man who's easily deterred, which is a good thing, because as head of Nicaragua's Canal Authority, he's seen the $50 billion, Chinese-backed project suffer setback after setback.

The latest: 12 months of construction delays on a key port just as financial turmoil in China deepens speculation the funding won't come through.

"Skepticism about the canal will fade as things start happening," Kautz said. "We see everything in such a macro way that I don't worry about the stock market. It changes everyday."