Replacement rights and keeping shipyards alive

Article 20's retained-ship list gave Britain the right to replace four older 13.5-inch-gun battleships with two new designs, while the United States could finish two Colorados. France and Italy received early-replacement options, while Japan could neither finish its new ships nor obtain comparable replacement rights. Possessing a right to build was not automatically a gain: exercising it meant accepting treaty limits, while waiting could permit more infrastructure preparation or construction after the system weakened. One capital ship every two years is presented as the minimum rhythm for keeping industrial capacity alive at a premium, with Britain and the United States ideally needing two in that period. A pause that looks fiscally economical can impose a larger industrial premium when a navy must restart at speed.