The Strait of Malacca carries more than a quarter of global trade, including most of the oil that flows from the Persian Gulf to key Asian markets.

The Strait of Malacca carries more than a quarter of global trade, including most of the oil that flows from the Persian Gulf to key Asian markets.

The Strait of Hormuz crisis is no longer merely a regional confrontation tied to tensions between Iran and the US, or between Tehran and Israel. It has evolved into a defining…