The experience of European shipyards may provide a useful lesson. As in the United States, European shipbuilders have found themselves increasingly unable to compete on price with Asian yards for the construction of large cargo ships by competitors. But rather than abandoning shipbuilding they have responded by seeking to move up the value chain and focus on higher-end specialized vessels. Tiny Finland, for example, is renowned for its prowess in building icebreakers, while German yards are some of the world’s best at producing cruise ships.