The British government was vehemently opposed to the Suez Canal, viewing it as a French power grab in the arena of global trade.
But in 1875, they changed tune, seizing on an opportunity to acquire a 44% stake in the canal from the economically-strained Egyptian government.
But in 1875, they changed tune, seizing on an opportunity to acquire a 44% stake in the canal from the economically-strained Egyptian government.
When the Ever Given--a 20,000 container ship--got stuck in the Suez Canal in March, the impact on global trade was dramatic.
Allianz estimated the blockage cost global trade between $6-10 billion per week.
Here's what it looked like on satellite imagery from @MarineTraffic.
Allianz estimated the blockage cost global trade between $6-10 billion per week.
Here's what it looked like on satellite imagery from @MarineTraffic.
The Ever Given situation captured public attention and put the Suez Canal into the mainstream cultural spotlight.
It even inspired a new videogame, which is soon to be released…
It even inspired a new videogame, which is soon to be released…
Ok, that’s enough rabbit hole for today. I hope you found this as interesting as I did!
Sources:
history.com
history.com
britannica.com
bbc.com
Sources:
history.com
history.com
britannica.com
bbc.com
Follow me @SahilBloom for more curiosity-inducing threads on business, history, and everything in between.
You can find all of my threads in the meta-thread below.
You can find all of my threads in the meta-thread below.
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