China produces more cargo ships than all the countries in the world combined. Foreign Policy magazine recalled such data when discussing the US lag in the shipbuilding industry.
The publication provides statistics according to which this industry in the United States now accounts for 1% of the world's, and in China - more than 50%. Over the past year, Beijing showed a 12% increase in shipbuilding.
The magazine believes that China's goal is to build supply chains that are resistant to possible Western sanctions, since 80% of global trade is carried out by sea.
Beijing generously funds shipbuilding projects. At the same time, the production of ships is almost completely localized.
Western economies will find it difficult to respond to China's dominance in shipbuilding because their shipyards compete with each other and cannot achieve the concentration of resources that China has, Foreign Policy believes.
