[Vince Ferrer]

The modern ships they have been building are gigantic. They don’t need many of those to replace a fleet of older ships.

[Palio di Siena]

$140 million is not massive debt.

[Zhang Fei]

The modern ships they have been building are gigantic. They don’t need many of those to replace a fleet of older ships.

I don't disagree that they can build these ships. But the main reason is the massive Chinese defense budget (probably around $200b), not the existence of these yards.