Tag: Foreign Flag Carriers
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From Maritime Titan to Underdog: The U.S. Shipping Decline and China’s Rise
The Decline of U.S. Shipping and China’s Maritime Ascendancy The U.S. shipping industry has experienced a steep decline over the past four decades, with the number of U.S. flag vessels plummeting from 2,700 to a mere 87. This downturn is largely due to deregulation, outsourcing, and insufficient government backing for domestic shipbuilding. Meanwhile, China has…