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Analyzing Economies Round 3: Middle East, Africa, South America, and North America
"Econ 102" with Noah Smith and Erik Torenberg
Navigating Risks: The Impact of Maritime Disruptions
The maritime trade routes through the Suez Canal and Bab-el-Mandeb are vital for connecting Europe and China, enabling the efficient transportation of goods. However, disruptions caused by the Houthi militia in Yemen, which includes missile attacks and piracy, threaten these routes. Although the Houthis are not significantly damaging ships, their erratic behavior and inconsistent targeting create enough risk for shipping companies to reconsider their routes, often opting to go around Africa. This shift not only affects international trade but also has dire economic implications for Egypt, which relies on the Suez Canal for export revenue, making it increasingly challenging for Egyptians to afford basic necessities like food.
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