New Suez crisis: a global economy creaking under the strain
Stuck container ship symbolises the problems many supply chains are facing after a year-long pandemic
Gamal Abdel Nasser would surely afford himself a wry smile. Sixty-five years after the late Egyptian president nationalised the Suez Canal, prompting the 1956 invasion by the UK, France and Israel, the waterway continues to hold a vice-like grip on global commerce.
Last week, a single ship — admittedly one almost as long as the Empire State Building is tall — caused ripple effects around the world when it blocked the southern entrance to the canal after running aground...