The following video is just replete with floundering symbolism of the Chinese economic miracle. One explanation for the fiasco: the boat's hold was filled with copper...
Details of what actually went down in this incident are bit fuzzy being that most every report is in Chinese, but from what we gather, a highly anticipated luxury leisure boat being built by the city of Lanzou located in the Gansu Province of China nearly sank immediately after the vessel was launched on September 29th. The vessel, the SS Jiugang, reportedly cost over 17 million RMB (over $2.5m USD) and its launch failure was salt in the wounds for the already expensive and highly questioned project.
Thankfully, the vessel was not a total loss. The SS Jiugang was salvaged and is currently undergoing repairs for a second launching to be held soon.
We can't wait for the video from that one.
As for the first, here it is: