U.S. shipbuilding has a unique opportunity now to reenter and compete profitably in world commercial shipbuilding. World shipbuilding demand is expanding rapidly and U.S. costs of most factors or inputs of production are today comparable to those of major shipbuilding countries. A path for regaining a U.S. commercial shipbuilding competitiveness is described and formal steps suggested which will be necessary to remake the U.S. into a world class shipbuilding nation. Many of the proposed steps will be painful, but similar steps have been taken by other U.S. industries, such as manufacturers of automobiles, steel, construction, electronics, and appliances. They are deemed necessary if U.S. shipbuilding is to survive as a viable industry under conditions of declining defense budgets, consistent federal budget deficits, and increasing importance of trade to the U.S. economy.

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