Egypt's gift to the world: A two-way Suez
Expanded canal will cut ships' waiting time; immediate impact on trade flows unclear
Ismailia, Egypt
WITH much pomp and pride, Egypt's military regime launched the New Suez Canal on Thursday in front of dignitaries from around the world in a project seen as more politically significant than economically so.
The expanded canal, dubbed by the authorities as Egypt's "gift to the world", will allow for two-way traffic and reduce ship waiting time in what is already the fastest shipping route between Asia and Europe.
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