An emerging nation is a group of people linked together through nationalism in the
             hopes to rise from obscurity with the common goal to become a more productive and
             cohesive country. Panama is indeed known as one of the worlds emergent nations. There
             are many plans under way to ensure a better, more productive future for Panama. The
             current president, Ernesto Perez's main platform was to modernize Panama. He hopes to
             achieve this by reforming labor codes, investment laws, decreasing import barriers,
             privatizing the public sector companies, passing anti-monopoly laws and improve
             Panama-US relations, just to name a few. President Perez is planning redevelopment of
             the Panama Canal Zone. Efficient operation of the Zone is expected in the year 2000.
             The most important interest the United States has in Panama is definitely the
             Panama Canal. (2.)The Panama Canal Treaty of 1977 and1979 returns the Canal from the
             U.S. control to the Panamanians. Between that time the U.S. agreed to pay $10 million
             for control of the Canal until 1999. Also an annuity of $250,000 was tacked on and we
             promised independence for Panama. Each year the price we pay for the canal rises. The
             total in 1995 was $100.2 million due to certain provisions of the treaty.
             also set up the Panama Canal Commission Organization (PCCO). The PCCO is a part of
             the executive branch of the United States. It was enacted to manage, operate, and
             maintain the canal until the term ends on December 31, 1999. The commission is
             expected to recover all costs of operating and maintaining the canal through tolls and
             other revenue. This includes interest, depreciation, capital for plant replacement,
             expansion, improvements, and payments to the Republic of Panama for Public services and
             annuities. The revenues are deposited into a U.S. Treasury accounted known as Panama
             Canal Revolving Fund. (3.)The tolls being paid are bas
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