The dwindling of the Panama Canal boosts rival trade routes
But they may end up more complementary than competitive
IT HAS BEEN an unhappy new year in the world’s busiest shipping lanes. Houthi rebels began attacking vessels passing into the Red Sea through the Bab al-Mandab Strait in early December. Trade volumes through the Suez Canal dropped by 40% as ships diverted around southern Africa. Trade through the Panama Canal, the second-busiest man-made shipping lane, has also dipped by 30% since November.
This article appeared in the The Americas section of the print edition under the headline “Dire straits”
More from The Americas
Canada has adopted assisted dying faster than anywhere on Earth
The province of Quebec now allows those with deteriorating illnesses to request an assisted death in advance
Tether’s move to El Salvador is a win for President Nayib Bukele
Why the stablecoin firm has picked the Central American country for its headquarters
From Greenland to Panama and Mexico, leaders are in shock
As Donald Trump eyes fine new pieces of real estate in the Americas and beyond
Canada and America have been fighting about timber for 40 years
As Donald Trump takes office, the chances of a lumber deal look slim
Justin Trudeau steps down, leaving a wrecked party and a divided Canada
Mark Carney and Chrystia Freeland are among those tipped as the next Liberal leader
Does made in Mexico mean made by China?
Donald Trump believes Mexico is a trojan horse for Chinese mercantilism