havoc to global trade. speaking in bahrain, the us defense secretary lloyd austin said participating countries include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for more on what the shipping disruption might mean for the global economy, i m joined from washington by hung tran, a senior fellow at the atlantic council and former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. altogether, it accounts for about us$1 trillion per year of trade, so it is quite significant, and a disruption
a magnitude of 5.9. chinese state media also reports that some water, electricity and road networks are damaged. the chinese government has dispatched teams of rescue workers to assist local emergency personnel. we ll bring you more details as they come in. now, international pressure is growing for israel to ease its military campaign in gaza. on monday, the us defense secretary was the latest to add his voice during talks with prime minister benjamin neta nyahu and israel s war cabinet. the department of defense says mr austin underscored the need for concerted efforts to protect civilians and urged israel to plan for transitioning to the next phase of operations. his israeli counterpart said israel would not control gaza in any civilian way after the war. here s the defense secretary earlier. protecting palestinian civilians in gaza is both a moral duty and a strategic imperative. so we will continue to stand up for israel s bedrock right to defend itself. and we will al
speaking in bahrain, the us defense secretary lloyd austin said participating countries will include the united kingdom, bahrain, canada, france, italy and spain, among others. this is notjust a us issue, this is an international problem and it deserves an international response. and that s why i m convening a meeting tomorrow, a ministerial meeting, with fellow ministers in the region and beyond to address this threat. for exactly what this shipping disruption might mean for the global economy, i spoke to hung tran, a senior fellow at the atlantic council and former deputy director at the international monetary fund. this area of the red sea leading to the suez canal is quite important in terms of the volume of trade passing through it. about 12% of global trade passes through the red sea, including 30% of the container shipping. all together, it accounts for about us$1 trillion per year of world trade, so it is quite significant, and a disruption there would cause damage to
pressure is turned up, a true leader has always taken the responsibility and taken action even when it s easier to do nothing. think fdr. december 7, 1941, a date which will live in infamy. a state of war has existed between the united states and the japanese empire. brian: and the war was on, providing america with leadership when you needed it most. is why you were elected. 1981, ronald reagan facing air traffic controllers strike. reagan stood up and spoke you have and did what he thought was best for america. i must tell those who failed to report for duty this morning. they are in violation of the law. about they don t report for work with 48 hours, they have forfeited their jobs and will be terminated. brian: and they were. we might not always like the leadership at handled but we appreciate that somebody stepped up. in that case it was reagan. when those planes crashed into our buildings on 9/11, former president george w. bush gave america exactly wallet needed. i
pressure is turned up, a true leader has always taken the responsibility and taken action even when it s easier to do nothing. think fdr. december 7, 1941, a date which will live in infamy. a state of war has existed between the united states and the japanese empire. brian: and the war was on, providing america with leadership when you needed it most. is why you were elected. 1981, ronald reagan facing air traffic controllers strike. reagan stood up and spoke you have and did what he thought was best for america. i must tell those who failed to report for duty this morning. they are in violation of the law. about they don t report for work with 48 hours, they have forfeited their jobs and will be terminated. brian: and they were. we might not always like the leadership at handled but we appreciate that somebody stepped up. in that case it was reagan. when those planes crashed into our buildings on 9/11, former president george w. bush gave america exactly wallet needed. i