China to invest in rail network as stimulus measure: report

Source: AFP

BEIJING (AFP) — China will invest nearly 300 billion dollars in its overburdened rail system as a stimulus measure aimed at blunting the impact of the global financial crisis, state press said on Saturday.

The investment is part of plans to extend the country's railway network from the current roughly 78,000 miles to nearly 100,000 miles 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 of 292 billion dollars was also intended to help lift the nation's economy as it suffers amid the global woes.

"New rail investment will become a shining light in efforts to push forward economic growth," railway ministry spokesman Wang Yongping was quoted saying.

Read more: http://afp.google.com/article/ALeqM5hsQrnP8XoUJxakvmT3Pv8M8E2fng

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So let me get this straight:

There's a giant financial fuckup that hits the whole world.

USA spends 700 billion (and rising even more) on sustaining a Ponzi scheme.

China spends 300 billion (which admittedly can buy a lot more over there) on improving infrastructure.

They say a broken clock is correct twice a day.

It's fallen on the floor & the Republicons have taken to hitting it with a sledgehammer.

Rail being the most energy efficient means of land transport, and so the most cost-effective once the infrastructure is in place. Its the sort of investment that would pay off over decades, in stimulating trade relations and economic activity across a connected landscape.

We, on the other hand, are dumping more than twice that amount into some sort of thing where the government buys shares of the big banks, or buys up bad loans and then sells them again, or some sort of thing like that....does anyone expect that to work?

than the USA. Just think if we would put $700B into the infrastructure in the US how many jobs it would make and the future returns we would get from it. We are still reaping the benefits from FDR's public works projects back in the 30's. We have dozens of flood control dams in this area that were built back then that have provided countless benefits over the last 80 years. You have the TVA that provided electricity to much of the south. We still have the REA that provides electricity to rural areas. We have all the locks and dams on the rivers that made them navigable year around. But no all our money goes to a bunch of crooks on Wall Street. Anything that actually benefits the American people is considered wasteful earmark spending.

But I disagree. I believe all out, unprecedented, massive public works projects, including the "Manhattan Project" for alternative energy solutions as proposed by Al Gore, are exactly what's needed right now. Redirect the focus of this country from the whole terrorist fear scam to the noble and brave task of saving our country and our world. Screw Wall Street, screw Bush cronies, screw "terrorists" out to get us - this country needs to show some vision and put what are left of our resources to work for the good of all.

I mean, things need to change right now or we, or more accurately, our children, really are fucked.

Air travel is largely doomed, except for the very rich.

is very pro Amtrak.

Bonus's for Wallstreet brokers and bankers. Ten percent of the $700 billion we are giving out will go to provide bonus's. $70 Billion in Bonus's... is it any wonder the world thinks we are nuts?

Too bad it isn't this country doing it!