zardoz
December 27, 2012, 8:52pm
1
http://www.nytimes.com/2012/12/27/business/global/worlds-longest-high-speed-rail-line-opens-in-china.html
I’m wondering how China can afford to build this. I was under the impression that they aren’t as well-off as they would like the rest of the world to believe. The article does discuss the financial aspects of the construction.
BTW, the above link has a really cool photo of the train yard.
BaltACD
December 28, 2012, 12:29pm
4
Lavish spending on the project has helped jump-start the Chinese economy twice: in 2009, during the global financial crisis, and again this autumn, after a brief but sharp economic slowdown over the summer.
The hiring of as many as 100,000 workers for each line has kept a lid on unemployment as private-sector construction has slowed because of limits on real estate speculation. The national network has helped to reduce air pollution in Chinese cities and helped to curb demand for imported diesel fuel by freeing capacity on older rail lines for goods to be carried by freight trains instead of heavily polluting, costlier trucks.
No comment on how this would go over in the US.
John_WR
December 28, 2012, 5:01pm
5
One part would probably go quite well: Land speculation around stations.