The Broken Economics of the Oceans
Wendover Productions・23 minutes read
New Guinea's geography impacts fishing industries in Indonesia and Australia, with China's fishing fleet contributing to overfishing globally and illegal practices in various waters. Efforts to regulate deep-sea mining and manage marine resources face challenges, including differing opinions among International Seabed Authority members and the recent Biodiversity Beyond National Jurisdiction Treaty not addressing deep-sea mining, raising concerns about enforcement and impact.
Insights
- Indonesian fishing industry out-competes Australia due to lower costs, leading to majority fishing in Indonesia's exclusive economic zone, while Australia's North has a sparse population and small fishing industry compared to Indonesia.
- Chinese distant water fleets, the largest globally, engage in overfishing and illegal practices in Indonesian and other waters, impacting fish populations and local economies, with Chinese fleets found fishing illegally in North Korean waters, disregarding international sanctions and exploiting loopholes to avoid detection and accountability.
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Recent questions
What is the impact of Chinese fishing fleets on global waters?
Chinese fleets overfish, deplete stocks, and exploit loopholes.
How does the fishing industry in Indonesia compare to Australia?
Indonesia's industry out-competes Australia due to lower costs.
What are the environmental concerns associated with deep-sea mining?
Deep-sea mining poses habitat destruction and carbon release risks.
What challenges does the International Seabed Authority face in regulating deep-sea mining?
The ISA lacks existing regulations, leading to potential legal conflicts.
What is the purpose of the Biodiversity Beyond National Jurisdiction Treaty?
The treaty aims to manage marine genetic resources and protected areas.
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