Suez Canal crisis in past and similarity with present geopolitics
The Suez Canal crisis has once again drawn lot of attention in recent weeks when a ship blocked the global trade running into billions of Dollars of losses within a span of two weeks. This even led to close down of few energy industries, ancillary units and power projects. This has prompted the great powers in the world and Asia to reconfigure their present strategy. The US, Europe, Gulf nations, China, Russia, Japan and India have now realized that the Suez Canal which forms the main backbone global economy is indeed a key pillar of global geopolitics.
The present Suez Canal crisis started as a mere technical problem in the beginning but within 48 hours it spread as a major crisis as major sea lanes of communications are blocked. Thus the global energy basins were cut off suddenly just due to a ship’s technical problem.
But some major powers have realized that this type of crisis can bring their industries into a halt if they do not plan for an alternate option from now. The vast European landmass andLearn more...