Part 7/8:
With projects like Mexico's Interoceanic and South America's Bioceanic Corridor nearing completion, the economic implications are significant. By offering faster and cheaper routes for cargo movement, these corridors could draw volume away from the Panama Canal, jeopardizing its financial health.
The melting Arctic ice is further changing the shipping landscape, opening up the Northwest Passage, which now offers shorter maritime routes between Asia and North America. This could potentially attract ships seeking to bypass the canal altogether.