Steve Clemons reports that economic stimulus is under way in second-tier Chinese cities hit hard by the economic downturn:
And on top of that, the central government has greenlighted three large scale transportation related projects that it had previously rejected — including the building of Wuxi’s first subway system and a new passenger hub terminal for an express train stop on a line being built both from Shanghai to Nanjing as well as Shanghai to Beijing.
The focus here on keeping people working, on correcting obvious environmental problems, on getting large scale public works infrastructure immediately underway is incredibly impressive — and makes me even more frustrated with the absence of this kind of focus in the U.S.
There has been something of a lack of vision about this kind of thing in the US. But honestly what I’m even more frustrated by is that we didn’t take advantage of the boom years to think seriously about our growth patterns. Meanwhile, if anyone wants to take me on a junket to China to learn about subway construction, I’m definitely open to that idea….