These Four Chokepoints Are Threatening Global Trade

The Strait of Hormuz
This strait, between Iran to the north and UAE and Oman to the south, is significant for both energy and goods shipping.
Some 20%—30% of oil trade passes through this strait, and a significant amount of global shipping volumes.
If Iran were to be drawn more directly into the ongoing conflict in the Middle East, the free passage of vessels through the strait could be at risk.
The Straits of Malaca and Taiwan
The Strait of Malaca, between Singapore, Malaysia, and Indonesia, is the shortest shipping route between East Asia and the Middle East and Europe and accounts for 30% of global trade.
Two-thirds of China’s trade passes through the strait of Malacca each year, including 80% of its energy imports.
There is an ongoing dispute between China and several members of the ASEAN trade area over a large area in the South China Sea.
Also in the region, the strait of Taiwan is another important shipping lane—40% of the world’s container fleet pass through it.
Both trade routes are subject to heightened geopolitical uncertainty.