China's Infrastructure Spending Rivals Interstate Highway System

Think Boston's Big Dig is a big deal? With the fear of a flagging economy sparking urban unrest, China is accelerating a Japan-style infrastructure spending spree that officials hope will translate into economic growth in the near and long term. Chongqing itself is slated to receive eight highways, eight bridges and four rail lines. Seven Chinese cities are now building their first subway systems.Economists fear that the spending will help the economy in the way that the New Deal helped the United States but at the cost of bankrupting the government.