Torches extinguished

摘要

Beijing-based ship financier Li Deng Bai recounts a recent trip to Zhejiang province, the region hardest hit by the disappearance of ship orders this year. Memorably he describes much of what he saw - mothballed shipyards - as ideal film sets for a Stanley Kubrick movie. "Three years ago," he recalls, "these were all brand new sites boasting fantastic business plans, now they're dead -vast industrial wastelands." Around 80% of shipyards in Zhejiang province have either suspended production or are operating at half their capacity.