The Panama Canal has emerged as the latest maritime flashpoint, with the United States and China exchanging barbs in recent weeks over influence in what is one of the world’s most important shipping routes.Earlier this week, Washington and its allies in the region accused Beijing of detaining and holding up Panama-linked ships – and claimed China’s actions were a “blatant attempt to politicise maritime trade”.Recommended Stories list of 4 itemsend of listOn Wednesday, China strongly denied the allegations, calling them “hypocritical” and accusing the US of politicising global commerce and undermining sovereignty.Analysts have warned that any disruption to the canal, even temporarily, could “disrupt global trade significantly”. “It would lead to temporary supply bottlenecks, stock market volatility, inflationary upward pressure and could dampen global GDP measurably if prolonged,” Ferdinand Rauch, a professor of economics at the University of St Gallen in Switzerland, told Al Jazeera.This latest standoff comes as tensions between the US and Iran continue to foment over another key waterway, the Strait of Hormuz, which has been in effect closed for weeks since the launch of US-Israeli attacks on Iran, and which has been the site of multiple attacks and seizures of ships during that time.Together, these frictions point to a broader shift in international shipping, demonstrating that major powers are increasingly willing to contest control of global shipping lanes, raising questions over whether longstanding international laws governing the world’s seas …
