China's New Deal: Next Time, Take The Train
The People’s Republic of China has decided to drop some serious money on digging the country out of a hole. We’re not talking namby-pamby bailout money for distressed banks and auto companies that may actually go up in price (yeah, sure.) We’re talking real hard asset investment. China’s State Council has approved $300b for large scale construction projects to seriously boost economic growth, China Daily reports. Everybody had been banking on concrete measures to expand China’s clogged roads. But to the abject horror of China’s motorists, the government’s money will be working on the railroad. “In 1997, we dealt with the Asian financial crisis by stimulating domestic economic growth by investing in the construction of highways.” Zheng Xinli, a senior government policy advisor, said. “This time the money will go on improving the rail network.” Using the CIA Factbook’s numbers, 1/10th of GDP will be railroaded through China’s economy. Somebody’s making out this BIG STYLE. Bulldog, bulldog; bow wow wow!
Bertel Schmitt comes back to journalism after taking a 35 year break in advertising and marketing. He ran and owned advertising agencies in Duesseldorf, Germany, and New York City. Volkswagen A.G. was Bertel's most important corporate account. Schmitt's advertising and marketing career touched many corners of the industry with a special focus on automotive products and services. Since 2004, he lives in Japan and China with his wife <a href="http://www.tomokoandbertel.com"> Tomoko </a>. Bertel Schmitt is a founding board member of the <a href="http://www.offshoresuperseries.com"> Offshore Super Series </a>, an American offshore powerboat racing organization. He is co-owner of the racing team Typhoon.
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I'd much rather see U.S. bailout bucks going to infrastructure than Wall Street. China may be on to something.
Infrastructure projects make more sense than bogus "stimulus checks" that are, often enough, cashed by other countries. --- RailsToTrails - Sure, I'd like to see a healthy rail network but, if the trains aren't useing them, might as well give the cyclists a chance. In fact, I use a couple rail-trails myself, frequently, as a cyclist. Around here, the converted trails do get used.