Tuesday, October 28, 2008

China Rail Stimulus Package: $445 Billion

Update: I should note that this is $445 Billion Australian or $272 Billion. That is still a lot of money.

Reuters is reporting that with factory workers in China losing jobs, the government will pump $445 Billion dollars into their rail system and economy.
CHINA will invest nearly $A445 billion in its overburdened rail system as a stimulus measure aimed at blunting the impact of the global financial crisis. The investment is part of plans to extend the country's railway network from the current roughly 125,502km to nearly 160,900km by 2010, Shanghai's Oriental Morning Post reported. The Beijing News quoted a rail official as saying that, while the network needed extending, the massive investment was also intended to help lift the nation's economy as it suffers amid the global woes.
I don't know about you all, but I can't even imagine a scenario where we pump that much money into freight and passenger rail lines because our politics would get in the way. That is almost double the demand that exists in the United States for new transit lines and certainly an investment like that in the United States would be an enormous benefit for our future ancestors. Are we going to see the light? Or fall further behind?

HT ASD

5 comments:

the transport politic said...

Meanwhile, France continues to expand its network of high speed rail trains, with 2000 more kilometers of lines in the next twelve years. And England's Tory party is seriously suggesting they abondon the development of a third runway at Heathrow airport in favor of a HSR link between London, Birmingham, and Manchester. Read more about it at the transport politic.

Anonymous said...

35,000 km of more track ain't half bad! ASD

In transit, Andrew

Bob R. said...

"future ancestors"? :-)

Anonymous said...

He means long term. ASD

Pantograph Trolleypole said...

haha thanks Bob R. It was late last night :)