The Suez Canal is the lynchpin in the world’s trade network ...Middle East

Quartz - Economy
The Suez Canal is the lynchpin in the world’s trade network
source : Quartz ( Middle East ) () 14
Right now, the Ever Given—a container ship about 1,300 feet long, which is longer than the Eiffel Tower is tall—is lodged sideways in Egypt’s Suez Canal, where it is blocking all other ships from passing. Efforts are underway to remove it, but they’re moving slowly. It could take days to straighten out the ship, which was blown off its course by strong winds, and more time to repair damage to the canal.The situation is a giant headache, given that Suez is the node in the global shipping network with the greatest effect on world trade. An estimated $400 million worth of goods flow through the canal each hour.In a study last year, economists examined the importance of various hubs facilitatin

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