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Economist Podcasts

Net losses: plunder of the oceans

Economist Podcasts

The Economist

News, News & Politics

4.35K Ratings

🗓️ 30 October 2020

⏱️ 21 minutes

🧾️ Download transcript

Summary

The staggering extent of illegal fishing, and its human and environmental costs, are only just becoming clear. We ask how to put a shadowy industry on a more even keel. The old guard likes to mock millennial investors, but they’re changing finance, possibly for the better. And as Berlin’s shiny new airport opens we ask: why is it nine years late? For full access to print, digital and audio editions of The Economist, subscribe here www.economist.com/intelligenceoffer

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Transcript

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0:00.0

Hello and welcome to the Intelligence on Economist Radio. I'm your host, Jason Palmer.

0:09.2

Every weekday, we provide a fresh perspective on the events shaping your world.

0:17.9

Where do people get their stock tips? Well, it depends on how old they are.

0:22.6

We take a look at the habits and trends among millennial investors,

0:26.6

how they're changing the day trading game, and what kinds of companies will be getting their attention.

0:31.6

And, seventh time lucky.

0:34.6

Tomorrow, a new airport in Berlin will launch after six planned grand openings.

0:40.7

It's nine years behind schedule.

0:43.5

Our correspondent goes along to a dress rehearsal of sorts

0:46.3

and explains that the airport's headaches aren't over yet.

0:57.0

But first... The world's oceans are under increasing pressure from fishing.

1:04.7

Just a fifth of the world's commercial species are sustainably caught.

1:08.8

But the legal, known end of the industry might literally be only the half of it.

1:13.7

20 to 50% of the global catch is illegal, or isn't reported, or is woefully unregulated.

1:20.6

That comes at an enormous cost, and not just to dwindling species.

1:25.7

It robs poor coastal states of billions in revenue,

1:28.8

and much of it wreaks havoc on underwater ecosystems. And the crews of all those ships

1:34.9

are subject to dangerous conditions, abuse, and worse. Much of the illegal trade is just coming to light, thanks to new ways of spotting it.

1:47.7

In particular, revelations about the vast number of what are called dark fleets.

1:54.3

Well, for a number of years, hundreds of rickety wooden fishing boats from North Korea

1:59.9

have washed up on Japanese shores.

2:03.1

And it's been a mystery because the big question is why these unseaworthy vessels

...

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