Why China is banking on Suez and plans for a new Egyptian capital

Apr 10, 2021 | INVESTING

The recent Suez Canal blockage highlighted the vital role Egypt plays in the global trade system and to China’s trade plans. The blockage, which lasted for six days, held up trade valued at over US$9 billion per day, according to data from Lloyd’s List.The canal is China’s main shipping route to its largest market, Europe, and Egypt has also become a key destination for the Belt and Road Initiative as it moves closer to Beijing.In recent years China has given Egypt, a long-standing US partner,…

Read More

Pin It on Pinterest