SAILING THROUGH THE SEAS: A COMPARATIVE STUDY OF THE AMERICAN AND CHINESE MARINE ECONOMIES

Abstract

The relationship between humanity and the ocean has a deep historical significance, particularly in the context of the economic dimension. The concept of ocean Gross Domestic Product (GDP) was introduced in 1974 to quantify the wealth generated from ocean-related activities (Colgan, 2013). Pontecorvo et al. (1980) and Pontecorvo (1988) estimated the ocean sector's contribution to the U.S. economy in the late 20th century. Collaborative efforts by the Bureau of Economic Analysis (BEA) and the National Oceanic and Atmospheric Administration (NOAA) have resulted in prototype statistics for U.S. ocean GDP (Nicolls et al., 2020). In 2011, China's marine economic GDP surpassed that of the United States, marking a significant shift in global maritime economic dynamics (Zhang et al., 2016). This milestone ignited a sense of national pride and ambition in China as a maritime powerhouse. To gain a comprehensive understanding of the maritime economic development in both China and the United States, it becomes imperative to analyze their respective paths and disparities. The recently proposed Four Eras Theory of Ocean Utilization (Sun, 2021) provides a promising analytical framework to dissect these differences and chart the developmental trajectories of maritime economies. This framework serves as a valuable tool for examining the maritime accomplishments and challenges faced by China and the United States.