High-Speed Rail Puts Investors on the Fast Track to Profits in China, but Languishes in the U.S.
Contrarian Profits (August 17th, 2009) Writes:
Understanding that high-speed rail (HSR) could provide millions of Americans with a cleaner, more efficient way to travel, President Barack Obama allocated $13 billion to its development over the next five years as part of the American Recovery and Reinvestment Act (ARRA) passed in February.
But Obama’s high-speed rail initiative has gotten off to a sluggish start, while a much bigger, $300 billion plan to create the world’s largest and most sophisticated high-speed rail network is already rapidly unfolding in China.
“Railroads were always the pride of America, and stitched us together. Now Japan, China, all of Europe have high-speed rail systems that put ours to shame,” Obama said in April.
In a proposal called “A Vision for High-Speed Rail in America” Obama and the Federal Railroad Administration outlined a plan to develop 10 “potential” 100-600 mile corridors in the United States, “similar to how interstate
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