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?