BUSINESS_ China’s Shipbuilders Go From Boom to Rust

THE WALL STREET JOURNAL

BUSINESS

China’s Shipbuilders Go From Boom to Rust

Shipyards across China are being driven out of business by weak global demand for new ships

VIDEO-Photo Shipbuilding was until recently a symbol of China’s industrial might. Now shipyards across China are being driven out of business by weak global demand for new ships. Photo: Lukas Messmer for The Wall Street Journal

By Trefor Moss Updated Feb. 8, 2017 10:25 a.m. ET


YIZHENG, China—Until last year the Yangzhou Guoyu Shipbuilding Co. was a bustling village of 6,000 workers striving to fulfill world-wide orders for new ships.

Today, in a scene repeated across China’s industrial heartlands, the yard stands silent but for the howling of stray dogs around its deserted docks. Outside the closed gates is a ghost town of abandoned workers’ dormitories, closed restaurants and crumbling internet cafes. ...

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READ MORE: https://www.wsj.com/articles/chinas-shipbuilders-go-from-boom-to-rust-1486552896

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