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According to a report at Bloomberg , China plans a major investment in high-speed rail over the next five years: $503 Billion:
China plans to spend 3.5 trillion yuan ($503 billion) to expand its railway system by 2020 as it turns to investments in infrastructure to bolster growth and improve connectivity across the country.
The high-speed rail network will span more than 30,000 kilometers (18,650 miles) under the proposal, according to details released at a State Council Information Office briefing in Beijing Thursday. The distance, about 6.5 times the length of a road trip between New York and Los Angeles, will cover 80 percent of major cities in China.
The plan will see high-speed rail lines across the country expand by more than half over a five-year period, a boon to Chinese suppliers of rolling stock such as CRRC Corp. and rail construction companies including China Railway Construction Corp. and China Railway Group Ltd. Earlier this year, China turned to a private company for first time to operate an inter-city rail service on the mainland, part of President Xi Jinping's push to modernize the nation's transport network amid slowing growth in the world's second-largest economy.
China will also add 3,000 kilometers to its urban rail transit system under the plan released Thursday.
At the end of 2015, China had 121,000 kilometers of railway lines, including 19,000 kilometers of high-speed tracks, according to a transportation white paper issued Thursday. The U.S. had 228,218 kilometers of rail lines as of 2014, according to latest available data from the World Bank.
The Chinese government will invite private investment to participate in funding intercity and regional rail lines, Yang Yudong, administrator of the National Railway Administration, said at the briefing.
Compare that to what it would cost, and how long it would take, to create the same high-speed rail links between 80% of major cities in the USA. I suspect it would be considered a miracle if half the cases would make it out of the courts in five years. Think of the advancements in manufacturing that can arise when "here" and "there" are "nearby" instead of "far away".
(Score: 4, Touché) by pe1rxq on Monday January 02 2017, @01:38PM
I still like it better than the US version: Increase your debt without any new infrastructure.
(Score: 2) by VLM on Monday January 02 2017, @02:48PM
infrastructure
Infrastructure takes maintenance.
At least theoretically a half trillion bucks of liberal arts degrees means if the kids get a windfall inheritance or lotto win then their loan gets paid off. The cost of keeping the non-performing loans on the books is minimal.
On the other hand freeway spurs can be very expensive to maintain. Or high speed rail. Or million dollar urban condos. All that stuff is worthless after enough expensive maintenance is deferred.
(Score: 4, Insightful) by takyon on Monday January 02 2017, @03:41PM
Maintenance of infrastructure would seem to require U.S. local labor, acting as a stimulus for the U.S. economy, rather than spending trillions and misplacing billions in ***istan.
[SIG] 10/28/2017: Soylent Upgrade v14 [soylentnews.org]
(Score: 3, Insightful) by LoRdTAW on Tuesday January 03 2017, @04:05AM
They blame it on lazy liberal children just like their parents generation blamed them for their ills of society. Rinse wash repeat.
George Carlin summed it up nicely: https://www.youtube.com/watch?v=XdH38k0iUgI [youtube.com]