In China, shipbuilders languish after bubble bursts

A building binge fueled by boom times has led to a glut of ships as China's economy slows down. China's expansion of the sector has only compounded the problem.

YUEQING, China — A shipbuilding boom raised the fortunes of this hardscrabble industrial port. Five-star hotels sprouted along with machinery depots and metal shops. European luxury cars darted past heavy trucks on the bustling streets.

Source: http://feeds.latimes.com/~r/latimes/news/nationworld/world/~3/4XVi6Pb1leU/la-fi-china-shipping-20120803,0,5355680.story

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