What was the significance of the Suez Canal in global trade? 🔊
The Suez Canal, completed in 1869, significantly impacted global trade by providing a direct maritime route between Europe and Asia. It drastically reduced travel time for ships, eliminating the lengthy journey around the Cape of Good Hope. This strategic waterway enabled faster and more efficient movement of goods, enhancing trade relationships and economic growth. It also played a crucial role in colonial exploitation by facilitating the transport of raw materials from colonized regions to Europe. The canal became an essential asset for international shipping and contributed to Egypt's geopolitical importance in the 19th and 20th centuries.
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