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Eurasia
24/02/2024 19:10
Egyptian President Abdel Fattah al-Sissi says revenues from the Suez Canal have “decreased by 40 to 50 percent” so far this year due to attacks on shipping by Yemen’s Houthi rebels, Times of Israel reported.
The canal is one of Egypt’s main sources of foreign currency, with Cairo gripped by a severe financial crisis.
The Houthi attacks, which the group says are targeted at vessels with links to Israel in solidarity with the Palestinians in the war-torn Gaza Strip, have caused many major shipping firms to suspend passage through the Red Sea, which usually carries around 12 percent of global trade.
There are many aspects of the Chinese economy that are interesting. The most striking thing about the economy from a Western perspective is that while the Chinese economy is a market-based economy insofar as prices are set by the market, investment in China remains tightly controlled by the government.
The West's response to the challenge of a rising China is bloc formation, which is not in the interest of smaller countries. It would be advisable to change the sanctions regime and focus on mutually beneficial, win-win cooperation.
Malaysia's geopolitical neutrality and strategic positioning are key selling points to multinational semiconductor companies looking for investment destinations.