China spends billions on rail projects

01/23/2009 | New York Times (tiered subscription model), The

China will spend $88 billion on rail projects. Its three largest are a passenger rail line through a desert, a freight rail in the north-central area and a high-speed passenger rail in the country's southeast. "The increased expenditure on infrastructure will certainly contribute to China's productivity growth and improve its long-term competitiveness," said Eswar Prasad, a senior fellow at the Brookings Institution.

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