Australia's Defence Minister Richard Marles stated, 'Our surface fleet is more important than at any time in decades. These general-purpose frigates will help secure our maritime trade routes and northern approaches as part of a larger and more lethal surface combatant fleet.'
The reopening of Hormuz is critical to the world's oil trade because its closure has resulted in the loss of millions of barrels of supply to global markets. A resumption would alleviate pressure on increasingly tight physical markets everywhere.
Panama Ports Company (PPC), part of the Hong Kong conglomerate CK Hutchison, said the Panamanian government acted in disregard for the rule of law. It decried what it called the latest steps to invade and take the property of PPC during a search on Thursday. It also accused authorities of entering a private storage site without notice and ignoring requests to safeguard sensitive corporate data.
[The Trump administration] may have entered the office thinking that they could use their economic leverage to push China in certain policy directions," said Amanda Hsiao, a China studies director at the Eurasia Group consultancy.
