The war in Gaza and the Houthis’ de facto blockade of the Suez Canal have both imperiled the Mediterranean’s recently regained status as a nodal point of global trade. But at the same time, the European movement toward de-risking trade with China and adopting shorter supply chains provides an opportunity for Mediterranean nations.
As 2024 begins, two of the world’s most important shipping routes—the Suez Canal and the Panama Canal—both face threats that require a global response. The two challenges aren’t alike. But given their effects on global trade, it’s worth asking, What if we treated them with a similar sense of urgency, strategy, attention and resources?
Earlier this year, the global economy experienced an important milestone that, though it went largely unnoticed, scholars may look back on as a marker of the beginning of a new era, with economic but also geopolitical significance: For the first four months of 2023, Mexico surpassed China as the top trade partner of the United States.
