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As a result, many shipping companies have chosen to redirect their vessels around the Cape of Good Hope, bypassing the shortest trade route connecting Asia to Europe through the Suez Canal. This has had a significant impact on Egypt's revenue from the Suez Canal, which amounted to $9.4bn in the 2022-23 fiscal year.
Spinning off CSIC In the late 1990s, economic reforms broke up state-owned monopolies and introduced "a limited amount of free-market competition" to improve the efficiency of defence industries. [11] [12] In July 1999, the China Shipbuilding Industry Corporation (CSIC) was spun off from CSSC. [12]
Part of a series on Social generations of the Western world Lost Generation Greatest Generation Silent Generation Baby boomers Generation X Millennials Generation Z Generation Alpha Generation Z (often shortened to Gen Z), colloquially known as Zoomers, is the demographic cohort succeeding Millennials and preceding Generation Alpha. Researchers and popular media use the mid-to-late 1990s as ...