ANALYSIS - China banks on rail boom to fire inland growth
Mon Apr 12, 2010 8:28pm IST
By Alan Wheatley, China Economics Editor
BEIJING (Reuters) - In southwestern Yunnan province, giant concrete pillars bestride the fields, tracing the route of one of scores of new rail lines that China is building.
In western Xinjiang, construction crews toil on a lonely line crossing the desert wastes to the Silk Road city of Kashgar.
From one end of the country to the other, China is in the midst of a railway boom that promises to transform the world's third-largest economy.
By making it easier to move people and goods, the railway mania will gradually shift the centre of economic gravity inland, accelerating the development of central and western China in an echo of America's experience in the 19th century.
Jing Ulrich, chairman of China equities and commodities at J.P. Morgan, also sees comparisons with the construction of the U.S. interstate highway system and Japan's Shinkansen high-speed rail network. Both wrought far-reaching socio-economic changes....
http://in.reuters.com/article/businessNews/idINIndia-47628220100412
http://in.reuters.com/article/businessNews/idINIndia-47628220100412