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Timely insights from the Economy, Strategy & Finance Center
Maritime dominance is the focus of a new executive order from the White House which, along with other recent policies, seeks to revive the US shipbuilding industry, and limit China’s control of this sector.
China’s leading global role: In just the past 25 years, China’s shipyards went from building less than 5% of the world’s commercial ships to more than 50%. The US builds less than 1% of the world’s ships. Besides ships being built and used for freight, China’s navy has grown rapidly, and its fleet is now larger than that of the US.
What policies and actions are in the executive order:
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