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