The Panama Canal has emerged as the latest maritime flashpoint, with the United States and China exchanging barbs in recent weeks over influence in what is one of the world’s most important shipping routes.

Earlier this week, Washington and its allies in the region accused Beijing of detaining and holding up Panama-linked ships – and claimed China’s actions were a “blatant attempt to politicise maritime trade”.

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On Wednesday, China strongly denied the allegations, calling them “hypocritical” and accusing the US of politicising global commerce and undermining sovereignty.

Analysts have warned that any disruption to the canal, even…