Final answer:
The Panama Canal serves as a maritime shortcut that connects the Atlantic and Pacific Oceans, which revolutionized international trade and naval passage by drastically reducing the travel distance. Its sophisticated lock and lake system allows ships to be elevated and passed through the canal. Now managed by Panama since 2000, the canal continues to be a pivotal structure for global trade.
Step-by-step explanation:
Purpose and Connection of the Panama Canal
The purpose of the Panama Canal is to provide a maritime shortcut that connects the Atlantic and Pacific Oceans. Before the canal was built, ships had to embark on a long and perilous journey around the southern tip of South America to traverse between the two oceans. The creation of the Panama Canal substantially shortened the voyages, facilitating international trade and maritime navigation. Constructed by the United States between 1904 and 1914, the canal uses a system of locks and an artificially created lake, Lake Gatún, situated 85 feet above sea level, to raise and lower ships. The water for these locks is provided by gravity from Lake Gatún, which is dammed up within the canal. While originally controlled by the United States, after significant political developments, the Panama Canal was returned to Panama in 2000.
Panama, with its approximately three million inhabitants, now bears the responsibility for managing and maintaining this critical piece of infrastructure. To bolster their economic capability, Panama has developed a free-trade zone near the canal, asserting itself as a key economic hub for the region and a significant player in economic globalization and trade.