Why The Panama Canal is Failing
Panama handles roughly 5% of the global sea trade and 40% of the US trade, carrying around 270 billion dollars worth of cargo that flows through the Atlantic-Pacific annually. The drop in water levels allows only 24 ships to pass per day as opposed to 40 ships on a regular day. This has resulted in delayed shipments, more fuel usage, and GDP losses to the trading nations.
The Panama Canal is a 100-year engineering feat that connects two huge oceans; the Atlantic and the Pacific. As its name indicates, this canal is located in Panama- a tiny country that joins Northern and Southern America.
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2 апр 2024