Panama Canal reemerges as key route
The Panama Canal, which was officially opened on August 15, 1914, revolutionized global trade routes by enabling ships to pass directly between the Atlantic and Pacific Oceans, rather than detouring around South America. This significantly reduced both time and cost, making it one of the most important maritime passages worldwide. While the administration was previously American until 1999, Panama asserts its sovereignty over the canal and is currently engaged in debates about "recovering" it following statements from Trump. Nonetheless, Panama insists that the canal is fully within its sovereignty and actively manages its operations, despite current challenges such as declining water levels and climate impacts.
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