China’s Overfishing Problem is Everyone’s Problem

Whether oil or critical minerals, policymakers have long understood the economic, environmental, and geopolitical value of reducing reliance on foreign adversaries for natural resources. This policy principle holds true not just on land but also at sea. America and the rest of the world need a comprehensive response to China’s overfishing and aggressive fishing tactics, which overwhelm competitors and threaten biodiversity. 

Overfishing is a textbook example of the tragedy of the commons. When everyone owns something, no one does. Fish are a common resource outside territorial waters where defined and legally protected property rights exist. Commercial fishers will retrieve as many fish as possible in international waters where property rights are unclear, unregulated, or nonexistent. If they don’t, others will. Even if it contradicts their long-term interest to have a robust marine stock, they race to take the most at the risk of permanently depleting the resources.

Many countries subsidize fishing through direct payments and low-interest loans for vessels and equipment. This is another textbook lesson in economics. If you subsidize something, you’re going to get more of it. The subsidies encourage commercial fishing, exacerbating the tragedy of the commons problems. Like many other sectors with significant strategic and economic value, China is leading the way.