US accounts for 1/2 global defense spending; China the same in RR
Wednesday, May 19, 2010 at 12:05AM
Thomas P.M. Barnett in China, Citation Post, development, infrastructure, transportation

Map found here

FT story on Bank of China investing $1.1B in China railway per government direction, resulting in 15% stake. This just after announcement of $900M investment in high-speed Shanghai-Beijing line, something on which the BoC may actually get its money back.

China is spending $120B on RRs this year.  The most fantastic estimates of Chinese defense spending land in the same range.

The US spends in the range of $600-700B on defense and nowhere near any such number on RRs, which get less maintenance money each year that the interstate system does.

One World Bank expert says China's RR expansion is the biggest thing since the US built its interstate highway system.  China, BTW, is just finishing up its own such system.

Article originally appeared on Thomas P.M. Barnett (https://thomaspmbarnett.com/).
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