There might still be such a thing as too much infrastructure spending, however.
Peter Coy reports: "Despite a crying need for better infrastructure, investment in it has fallen in 10 major economies, including the U.S., since the financial crisis, according to a new study by the McKinsey Global Institute."
An exception to that trend can be found in China, however, which now spends more on economic infrastructure than North America and Western Europe combined, according to the report.
The report found infrastructure spending declining as a share of gross domestic product from 2008 to 2013 in the United States, United Kingdom, Italy, Australia, South Korea, Brazil, India, Russia, Mexico, and Saudi Arabia. Infrastructure spending increased as a share of GDP in Japan, Germany, France, Canada, Turkey, South Africa, and China.
FULL STORY: China Spends More on Infrastructure Than the U.S. and Europe Combined
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