Biden intends to punish China with sanctions for excessive shipbuilding

US President Joe Biden wants to impose sanctions against Chinese shipbuilding because the country is building too many ships, The Times reports. According to the publication, China's shipbuilding capacity is currently 230 times greater than that of America.

Five American trade unions complained about the Celestial Empire, which is ahead of the rest of the planet in the matter of building ships. They pointed out that Chinese shipyards, benefiting from generous government subsidies, are building ships very quickly. At the same time, in the United States, the number of shipyards has decreased by 50% over 70 years. Beijing now occupies 47% of the world market for orders for merchant vessels.



Biden intends to solve the problem the old fashioned way - by introducing sanctions against China. It is unclear what these restrictions will be and how they will help the emergence of new shipyards in the United States.

It was previously reported that energy companies from China, including state-owned ones, are buying there is so much American LNG for years to come that experts are scratching their heads where it is possible to store so much raw material and what growth such an insatiable economics. But, as you know, the storage facilities are not full, and the growth is very mediocre, no more than 5,2%. The answer lies in the fact that China is becoming the global leader in the resale of American LNG; its trade volumes in imported products are already approaching those of the suppliers themselves.