How The Suez Crisis Might Give Rise To A New Industry_: The Linchpin In The World's Trade Network

The video discusses the Suez Canal blockage by the Ever Given and its impact on global trade. It highlights the canal's importance, accounting for 12% of global trade, and the economic repercussions of the incident. The video explores the potential shift towards self-sufficiency in major economies due to vulnerabilities in global supply chains. It also touches on the historical and political significance of the canal and the possibility of modern airships as an alternative to traditional shipping routes.

What was the estimated cost per hour of the Suez Canal blockage?

• $100 million

• $400 million

• $200 million

• $300 million

What percentage of global trade passes through the Suez Canal?

• 5%

• 12%

• 25%

• 20%

Why is stability and confidence crucial for economies?

• They increase government revenue.

• They prevent economic anarchy.

• They guarantee economic growth.

• They ensure high employment rates.

Which countries are mentioned as net importers of food?

• Brazil, Australia, Canada

• Germany, France, Italy

• Japan, Russia, UAE, UK

• USA, China, India

What might nations prioritize if global trade stability is not guaranteed?

• Expanding military forces

• Ensuring food supply

• Increasing tourism

• Manufacturing new technology

How many wars has the Suez Canal been the center of since its opening?

• Two

• Three

• One

• Four

What is a potential consequence of the Suez Canal blockage on global trade policies?

• Increased focus on international trade

• Support for local industries

• Expansion of trade routes

• Reduction in trade tariffs