A study by economists at the University of California, Los Angeles and China’s Tsinghua University on the effect of investing in high-speed-rail systems indicates that it spurs real estate development, cuts commuting times and eases road congestion. "Bullet trains simultaneously alleviate some of the congestion costs associated with urban growth in the megacities and trigger the growth of the nearby second-tier cities," said environmental economist Matthew Kahn, a professor at UCLA's Institute of the Environment and Sustainability.

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