Eng
U.S. President Joe Biden’s administration has accused China of using unfair policies to dominate the global maritime, logistics, and shipbuilding sectors, three sources familiar with the results of a months-long trade investigation told Reuters.
Investigators concluded that China targeted the shipbuilding and maritime industry for dominance, using financial support, barriers for foreign firms, forced technology transfer, intellectual property theft, and procurement policies to give its shipbuilding and maritime industry an advantage.
The probe cites data showing that China’s share of the global shipbuilding industry has expanded to over 50% in 2023 from around 5% in 2000, largely aided by government subsidies, while once dominant U.S. shipbuilders have seen their share dwindle below 1%.
Source: reuters.com