We live in a world where globalization and trade have become one of the most vital aspects in determining the power of a country’s economy.
In fact, the process of getting goods from point A to point B might be one of the most important economic drivers in the world, yet no one talks about it. And somehow…quietly in the background, We might be seeing the creation of the most powerful trading economy in the world…but not for the reasons that you might think.
If you want to ship an item from a manufacturing hub like China, to a consumer hub in a Place like New York…how would you do it?
Well you could just send the package on a direct flight and it’ll get their in roughly 15 hours. But this is extremely costly. It actually costs anywhere from 5 to 15 times more to ship by air than to ship by the most common shipping method… by sea.
So, we are probably going to need to use a sea freighter. Now how would you deliver the package? Well you could drop the package off at long beach, and use a rail or truck to move the item to new york, but again, that is usually more costly.
Now we are in a predicament. In order to get an Item from China, all the way to new york, a ship would need cross the pacific ocean, travel all the way around the bottom of south america, make its way through the atlantic ocean, before reaching its destination after travelling 30,000 kilometres.
And this is a problem that was faced for hundreds of years. For example, when countries like Great Britain wanted to trade with the west coast of the united states or south america. Virtually all ships would’ve needed to travel around the bottom of south america in order to deliver their goods.
That was until the early 1900’s when the United States decided to buy up an 82 kilometre long plot of land in Panama. You see, the united states saw that this was the smallest amount of land that separated the Atlantic Ocean from the Pacific Ocean. So they thought this land could be used for both trade and military purposes. So, they purchased this plot for roughly $40 million dollars, or roughly $916 million dollars today.
They then created an artificial lake, and dug trenches from this new artificial lake(gatun lake) to both the pacific and atlantic oceans.
And finally on August 15th, 1914, the Panama Canal was opened. And the first american ship to ever travel directly from the atlantic ocean to the pacific ocean, without going around south america, had passed through the Canal. It was a cargo ship called SS Ancon, and was largely responsible for shipping cement from New York, to Panama in order to help build the Canal’s infrastructure.
And this opening of the Panama Canal would go on to change the world in many ways. For example, in 2019 nearly 1 million ships passed through this Canal, which indirectly resulted in trillions of dollars worth of commerce. The Canal also generated roughly 2.6 Billion dollars worth of fees for granting access of use of the Canal, so the Canal itself is a pretty decent money maker itself as well.
But this Canal also has limits, for example, no ships longer than 1200ft or wider than 168ft can actually pass through the Canal, as the waterway is simply not large enough to allow bigger ships through. So that is why today, you see most cargo ships being built with the exact dimensions needed to fit in the Panama Canal.
Another more unforeseen effect that this Canal had was that it wreaked havoc on some south American countries like Chile. This was because the ships that once had to stop at multiple port cities along the Chilean coast, all of a sudden stopped coming by. This was a large contributing factor to an economic collapse in Chile, which saw its state income and international trade cut in half within 2 years.
Way too long. End of transcript
Some keywords that I wanted in the description:
northwest passage
canada northwest passage
northwest passage trade
baffin island
iqaluit
canada economy
nunavut
yukon
northwest territories
canada trade
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He left out a bit of context as to why Canada imposed those tariffs against the United States. My friend… Because the US tried to put tarrifs on some Canadian products…
video aged poorly
Human rights violations? Like Kisrael?
Not "the smallest amount of land" but the smallest area of land, or even better, the narrowest part of land when referring to the Isthmus of Panama. Poor expression detracts from the message.
And use not "usage" is correct in the context of the video's narration.
Y'best fix that thumbnail there bud, or we might stop bein' sorry.
The steel and aluminum tariffs were all thanks to the thief , swindler , liar , conman , gangster Donald Trump …
one thing that's worth considering in regards to climate is that for now it has less impact but if there was constant traffic through the passage the increase in volume of shipping could become a bigger environmental problem. we see this quite often in cities with cars where the widening of roads causes more congestion and vehicles and cuts down the fuel efficiency, although i lack the qualifications to say how much this potential problem would apply to the passage as it's scale may be large enough that global trade may not scale up enough to cause that problem.
i raise this merely as a consideration and leave the predicting to the experts.
What is your opinion about the MTFE ( AI ) Trading app.
Canada Zindabad!
Canada can't even get its rail system together. It just passed C-11. Do you really think they are building a hub? They will be in a civil war in the minute parts that are habitable in 5 years. LOL.
The North West passage is most certainly Canadian waters, and that would be held up under international law and it is between Canadian Islands. It is an internal waterway and it is not like the other waterways mentioned, which are the ONLY connection of certain countries to open sea (like Austria and the Danube). All countries that would use the NWP have direct connection to the open sea and alternative routes. This documentary itself acknowledges US ownership of the Panama Cannel, does it not? Also, the Bosphorus Strait, that connects the Black Sea to the Mediterranean IS actually owned by Turkey. But there is an agreement in place that allows all Black Sea countries to access it freely (The Montreux Convention). Turkey does restrict military use and other commercial traffic. An interesting fact is that there can only be 10 military vessels in the Strait at one time. Since that agreement came into effect Russia have maintained 10 of their warships in the strait, effectively stopping any other military vessels entering the Black Sea.
Nice, as a first generation immigrant to Canada, I'll let my next generations to stay in Canada to develop the infrastructures on North Western Ports. We are going to be a superpower in the next 3-4 decades 😂
damn bro we gotta start putting fees on this
One day, Canada will take over the world. Then you'll all be sorry!😆
Canadian government kills people with mk ultra type implants im proof I’ll be dead in days help human rights
The French began excavating in Panama first and failed, then the USA purchased the land that had progress already
meanwhile alaska
i love my country 🇨🇦🇨🇦🇨🇦🇨🇦🇨🇦 and it is ours
I just saw your info post about passage of North of Canada .. but dint PM Harper sold a crap load of land for oil and a passage to the north to the
US??
13:58 How did you pronounce Danube???
Your comments are so out of context, it undermines everything you are presenting here about the new route.
What's wrong with you??? You could not be more wrong.. please stop misleading canadians
Hmm. In thunder bay you should be able to catch a ferry over to Sault st Marie ontario…but after 100 years…nope we burn gas with trucks country wide.
We send our resources to other countries to process..and we ship back even…keeping jobs out of Canada.
Lastly the lucrative fishing..logging and mining industry…oh and pharmaceutical…but we have so many dollar stores of Chinese goods..ready for instant disposal.
I don't think anyone realises that in the thumbnail Canada is the United States..
Edit: Only the shape of the country.
Are we waiting for an oil spill?
Globalist propaganda.
Does that mean there will be less wealth inequality cause that would be really cool 😐
It belongs to Canadians but we have no means of defending it against russians and chinese as Canadian Navy is a joke
LATELY, I'M HEARING OF CHINA'S THREAT TO CONTROL THIS ARE OF OUR NATION CLAIMING AS USUAL THIS IS INTERNATIONAL WATERS. IN THE PAST WE'VE ALWAYS BEEN PUPPETS OF OTHER NATIONS WHEN DISPUTES AROSE AND HOPEFULLY NOT IN THIS CASE, OR THE CANADIAN ARCTIC WITH THREATS FROM RUSSIA.
LOL this did not age well.
LOL
Nice Thumbnail I didn't know my country looked the exact same as the country below it, That's totally crazy!!1!
9:10 the world asking us to get rid of its high fever.
It would be like saying the Inland see in Japan is international or the passages between North and South Island of New Zealand. How about the passage between Tasmania and continental Australia. Hundreds of Miles of channels between scores of Canadian Islands? I don't buy that it is International. If someone is in trouble which Coast Guard will be called?
Oh, Canada!!! Oh, oh, no gumption? JMH