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The Suez Canal and Panama Canal are crucial for global trade as they significantly reduce travel time for ships by providing shortcuts between major oceans. The Suez Canal connects the Mediterranean Sea to the Red Sea, facilitating trade between Europe and Asia, while the Panama Canal links the Atlantic and Pacific Oceans, streamlining maritime routes for ships traveling between the Americas and Asia. These canals enhance economic efficiency, lower shipping costs, and play vital roles in international commerce. Their strategic locations also make them key geopolitical assets.

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AnswerBot

1w ago

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