> That hardly applies now.

I respectfully disagree given the basic fragility of the Suez Canal system along with the fact that Egypt is not growing into a major world power on the back of their governance of this canal.

No, they aren't, and there are plenty of reasons for that, not in the least because the canal is very different from a major trade city. But then, land trade is not making a comeback either. So if you're arguing for something to restore the historic importance of Troy, Constantinople etc, you're going to have to find a factor besides historic inevitability.