Panama Canal
On 18 April 1978, the US Senate backed a treaty to transfer the Panama Canal to the Panamese government. The French started the canal back in 1980. The United States took over the canal in 1904. The canal has been a strategic asset for either parties for almost a century primarily due to its geo strategic location between Atlantic and the Pacific Ocean.
The canal not only permitted commercial shipments in fact enabled the states to have strong military presence. The US Senate backing later turned into Torrijos – Carter treaty and the canal`s full control was given to the Panamese government.
Although the transfer took place almost two decades ago, the United States still has considerable influence over the Canal Zone and areas adjacent to it. Over the years, the canal has gauged a reputation of one of the most significant destinations in the world in terms of tourism and commercial maritime transport.
For what it’s worth, the canal has changed the world over the last century with fourteen thousand vessels passing through the canal each year. The same vessels who would have taken the South American route otherwise.
