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 surpassed. 



The United Nations Food and Agriculture Organization (FAO) 

 reports that most conutiercially important stocks of fish are 

 either fully exploited, overexploited or depleted. Yet the global 

 fishing fleet continues to expand. FAO estimates that total 

 tonnage of fishing vessels increased at twice the rate of 

 increased catches in the 1980s. And the continued expansion of 

 fishing capacity has resulted in tremendous costs. FAO 

 'conservatively' estimates that, on a global basis, the world's 

 fishing fleet in 1989 operated at a $54 billion deficit. By way 

 of explanation, FAO states that many large-scale commercial 

 fishing fleets continue to operate in spite of such enormous 

 losses because of "massive subsidies and other forms of 

 government support" . 



The FAO has long promoted the development and growth of fisheries 

 and has been a key party to the rapid, irresponsible expansion of 

 fishing effort worldwide. Even the FAO, however, is beginning to 

 realize that the growth in fishing has reached its limits. In a 

 recent statement (May 1992) occasioned by the release of An FAO- 



report warning that one-fourth of the world's biodiversity may 

 disappear in the next thirty years, the FAO states: 



"The world fish catch has increased more than four times 

 in the past 4 years, but the over-intensive use of 



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