China destroyed its own fisheries, then exported the destruction globally. From 1979 to the mid-1990s, China’s fishery sector aimed to increase output to meet growing demand. By 1995, overfishing, land reclamation, and industrial pollution had severely depleted stocks in China’s traditional fishing grounds. The blue line shows the collapse. The four seas around China are among the world’s most heavily overfished, with indiscriminate harvests leading to profound trophic cascades. So what happened next? In 2006, the government introduced a fuel subsidy for fishermen. Between 2006 and 2014, the cost of fuel subsidies rocketed from 281 million yuan ($41 million) to 4.2 billion yuan ($600 million). Depleted stocks plus cheap fuel sent China’s fleet outward. China’s fleet now accounts for 50 to 70 percent of squid caught in international waters. With more than 800 ships on the high seas, Chinese vessels were responsible for more than 35 percent of the reported global catch. The economics are wild. On its own, distant-water squid fishing is a money-losing business. The sale price of squid typically does not come close to covering the cost of the fuel required to catch the fish. Fueled by subsidies estimated between $7.2 and $10.9 billion annually, Chinese vessels venture farther, stay at sea longer, and fish more intensively than would otherwise be economically viable. The Chinese fishing industry is the most heavily subsidized on earth, with $5.9 billion in harmful subsidies paid in 2018. Japan: $2.1B. EU: $2B. US: $1.1B. What can be done? Cut subsidies at the source. Global fishing subsidies amount to $35 billion per year, 60%+ contributing to overfishing. The WTO Agreement on Fisheries Subsidies exists but only 40 countries have ratified it; another 69 are needed. Enforce port state measures. Countries in East Africa created FISH-i Africa for information sharing and enforcement, resulting in denied landings and millions in fines. Require vessel tracking. Chinese vessels often operate with tracking systems deliberately disabled. Target seafood imports. The U.S. Coast Guard and Argentine Navy began joint exercises to combat unlawful Chinese fishing. From North Korea to Mexico to Indonesia, incursions by Chinese fishing ships are becoming more frequent and aggressive. China’s armada in North Korean waters forced out smaller boats and led to a 70 percent decline in squid stocks. Every dollar of fuel subsidy keeping an unprofitable trawler at sea is a dollar spent depleting the oceans for everyone else.