To alleviate the strain placed on its economy by the world financial crisis, China is planning an “infrastructure spending spree,” according to an article in today’s Wall Street Journal.
The $586 billion stimulus package unveiled this week will go mostly toward building highways, railroads and airports — to connect rural areas with cities, make industry operate more efficiently and help farmers bring goods to market. The plan will give China 53,000 miles of highways; the U.S. Interstate system developed by Eisenhower and realized in the last half of the last century stretches 47,000 miles. The Chinese plan sounds distinctly 20th century, designed to stimulate the economy without too much regard for the environmental impact.
Meanwhile, here in 21st century America, our political leaders and their economic advisers are also touting infrastructure investment as a way to shore up our failing economy. It remains to be seen whether there will be enough pressure on our leaders to make smart choices and the right investments, to convert our existing, inefficient infrastructure to more energy-efficient, sustainable purposes.