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Old Posted May 22, 2010, 8:41 PM
Onn Onn is offline
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Join Date: Apr 2010
Location: The United States
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Originally Posted by 202_Cyclist View Post
I don't mean to bash the Chinese but we have plenty of money to fight these wars but we have to beg China and other countries to fund our infrastructure? Some times you can't help but ask which is the developed country and which one is the developing country.
Don't fool yourself, China's broke as well. They don't have money for all this stuff they're building, it's all debt which will never be paid off. China’s created massive debt and property bubbles. Unlike here in the west, China's government is not as open about their finances. They've been hiding debt for possibly decades, the party isn't going last forever. There will likely be a major slowdown at some point where nothing big gets built in China for decades. Personally I don't think high-speed rail is the future of transportation either, it is very expensive to build a good system.
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