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What is the significance of the Panama Canal in global trade?
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The Panama Canal is crucial for global trade as it allows ships to cross between the Atlantic and Pacific Oceans, significantly reducing transit time and cost.
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How does the World Trade Organization (WTO) facilitate international commerce?
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The WTO facilitates international commerce by setting global trade rules, resolving disputes, and providing a forum for trade negotiations.
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What is containerization and how has it transformed global commerce?
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Containerization is the use of standardized shipping containers for transporting goods, revolutionizing global commerce by improving efficiency and security.
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