Value Investing World

Tuesday, October 16, 2012

BOSS RAIL: The disaster that exposed the underside of the boom. (China) – By Evan Osnos

Evan Osnos was also on Charlie Rose discussing this article and other China topics HERE.

On the morning of July 23, 2011, passengers hurried across Beijing South Station at the final call to board bullet train D301, heading south on the world’s largest, fastest, and newest high-speed railway, the Harmony Express. It was bound for Fuzhou, fourteen hundred miles away.

Beijing South Station is shaped like a flying saucer, its silvery vaulted ceiling illuminated by skylights. It contains as much steel as the Empire State Building and can handle two hundred and forty million people a year, thirty per cent more than New York’s Penn Station, the busiest stop in America. When Beijing South opened, in 2008, it was the largest station in Asia; then Shanghai stole the crown. In all, some three hundred new stations have been built or revitalized by China’s Railway Ministry, which has nearly as many employees as the civilian workforce of the United States government.
Joe at 10/16/2012
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