Foreign Shipbuilding Subsidies

Foreign Shipbuilding Subsidies : Hearing Before the Subcommittee on Merchant Marine of the Committee on Merchant Marine and Fisheries, House of Representatives, One Hundred Third Congress, First Session; June 30, 1993 (Classic Reprint)

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Excerpt from Foreign Shipbuilding Subsidies: Hearing Before the Subcommittee on Merchant Marine of the Committee on Merchant Marine and Fisheries, House of Representatives, One Hundred Third Congress, First Session; June 30, 1993 Massive Subsidization During the 19805 During the 19805, foreign subsidies increased to massive levels, in response to the worldwide shipbuilding depression that followed the oil crisis of the mid 19705. Foreign governments competed against each other for the biggest shipyard subsidy budgets. The Japanese government created a cartel for its largest shipbuilders, bought up and closed unproductive facilities, funded shipbuilding production and technology improvements, provided soft loans for purchases of Japanese-built ships, and paid Japanese shipowners to scrap their old ships and build new ones in Japanese yards. The South Koran government used its bank to finance the buildup of Korean shipyards and keep them afloat while they lowballed prices, incurred losses, and accumulated billions of dollars worth of debt. European governments pumped money into their shipyard facilities and enticed customers to their yards with cash grants and soft financing. About the Publisher Forgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.com This book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully; any imperfections that remain are intentionally left to preserve the state of such historical works.show more

Product details

  • Paperback | 154 pages
  • 152 x 229 x 8mm | 213g
  • Forgotten Books
  • United States
  • English
  • , black & white illustrations
  • 0243244436
  • 9780243244430