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The Impact of the Suez Canal Blockade
The recent blockage of the Suez Canal caused by a grounded container ship weighing 200,000 metric tons emphasized the vulnerability of global trade, leading to massive fluctuations in commodity prices and availability of products and supplies for businesses around the world. Approximately 100 ships a day pass through the Suez Canal, an engineering accomplishment that connects the Mediterranean Sea to the Red Sea and allows ships from Asia to travel to Europe without having to go all the way around Africa.