Is China Spending Too Much on Trains?
Financial analysts in China say that the country is spending far too much money - to the tune of $229 billion - on its nationwide high-speed passenger-rail network.
From the New York Times: "Spending on railroads is growing faster than on any other area of investment, rising 80.7 percent to 464.6 billion renminbi in the first 11 months of the year from the same period in 2008, according to China's National Bureau of Statistics."
"'These are ridiculous, unsustainable numbers for any economy,' Mr. [Stephen Roach, chairman of Morgan Stanley Asia] said."
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Published on Wednesday, December 23, 2009 in
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