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Don't forget the fishing industry

A FEW weeks ago, I was on a cruise ship sailing from Hong Kong to Japan. As we crossed the East China Sea, the sea was full of fishing vessels, from horizon to horizon. In this case, they were all prominently flying the ensign of the People's Republic of China. The sight served to remind me just how big the world's fishing fleet is.

Fishing vessels range from small, inshore craft with a crew of two or three, to substantial ocean-going factory vessels with more than 40 people on board and values above US$50 million. In 2015, UN statistics indicated that the world fishing fleet was around 4.5 million vessels. This compared to some 17,000 general cargo ships, 11,000 dry bulk carriers, 13,000 oil...

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