Economist Podcasts Net losses: plunder of the oceans
Oct 30, 2020
Dominic Ziegler, author of Banyan and a commentator on Asian affairs, discusses the alarming rise of illegal fishing and its environmental impact. He explains the concept of 'dark fleets' and their exploitative practices, highlighting the role of technology in revealing these issues. Ziegler also emphasizes the importance of reallocating fisheries subsidies to promote sustainability and engage millennial investors in responsible practices. Lastly, he humorously recounts the saga of Berlin's new airport, showcasing its delays and the irony of launching during a pandemic.
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North Korean Ghost Ships
- Hundreds of North Korean fishing boats have washed up on Japanese shores, raising questions about their origin.
- The mystery was solved: Chinese industrial fishing vessels were depleting North Korean waters, forcing local fishermen further out.
Dark Fleets
- The discovery of Chinese fleets in North Korean waters highlighted the issue of "dark fleets."
- These fleets operate illegally and try to avoid detection, often violating sanctions or fishing without permission.
IUU Fishing
- Illegal, unreported, and unregulated (IUU) fishing is a significant problem.
- IUU fishing accounts for a substantial portion of the global catch, impacting fish stocks and costing billions.