Explain the importance of the Suez and Panama Canals.

The Suez and Panama Canals are very important because they reduce the distance for traveling and transportation by far, and they also reduced the expenses for the same.

Explanation:

The Suez and Panama Canals are two of the most important canals in the world. Their importance can be seen mostly in economic and geopolitical aspects. The Suez Canal is connecting the Mediterranean Sea and the Red Sea, while the Panama Canal is connecting the Pacific Ocean and the Caribbean Sea.

The Suez Canal enables much faster and easier transportation of goods between Europe and Northern Africa on one side, and Asia, Eastern Africa, and Australia on the other side. Instead of circling the African continent, transportation goes through this canal which is faster and safer.

The Panama Canal is connecting the waters of the two biggest oceans in the world. Its importance for transportation of goods can be seen on both the east and west coasts of both North and South America. Through it, the opposite sides of the continents have easier and faster access toward Europe and Africa on one side, and Australia (Oceania) and Asia on the other side. The transportation is much faster and much safer as if it wasn't for this canal the South American continent would have needed to be circled, and the southern part is not safe at all because of its proximity to Antarctica.