Making big infrastructural investment in China are second nature to the central party, and in an economy where big money spends can keep millions working, it only makes the decision to green light 22 new CITY metro systems.
REminds me of when I accompanied the board of an Ivy LEague school to the Shanghai Urban Planning museum, and while meeting with the COmmissioner the President of the Board mentioned that they recently closed a 25 year long process to expand their campus. the commissioner then rebutted with “we did that a couple eyars back as well… with 15 campuses”.
He was referring to the fact that Shanghai, in one fell swoop, moved 15 existing University campuses to new ones south of town in a single cluster.
Only in China.
I heard the other day that construction in China has slowed considerably, and that they are feeling the effects of the world recession.
Construction Jobs.
Earlier in the year, construction on many of the developments was idle, but sometime in the May/ June timeframe everything turned back on as liquidity was pumped into the market.
R