Each nation can handle it as they see fit. If they believe their people will be coming after them when they are starving to death in a few years they'll figure something out.
Australian claims ownership of some ocean near its coast line. It enforces fishing regulation against other countries fishing in these waters. Australian are always arresting Indonesians for breaking these regulations. It enforces fines and compensation of the catch and even boats sometimes. Wehave regulation about the amount of type of fish caught in our waters.
Other nations have similar laws about their territorial seas. It would be better if the world agree but regulations and fines are enforced. This is the only way to stop over fishing
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