The Meizhou Bay cross-sea bridge of the Fuzhou-Xiamen high-speed railway in Fujian province is under construction in January this year. The Chinese use state-owned enterprises to implement long-term goals, such as the modernisation of infrastructure, job stability, regional development and provision of social utilities. Photo: Xinhua
The Meizhou Bay cross-sea bridge of the Fuzhou-Xiamen high-speed railway in Fujian province is under construction in January this year. The Chinese use state-owned enterprises to implement long-term goals, such as the modernisation of infrastructure, job stability, regional development and provision of social utilities. Photo: Xinhua
Andrew Sheng
Opinion

Opinion

Andrew Sheng

Surge in US government spending pits America against China’s state capitalism. Which is doing better?

  • The trillions of dollars the US is throwing at reviving jobs and repairing crumbling infrastructure has to be funded by higher taxes and borrowing from the rest of the world
  • In China, the state owns a quarter of the net national wealth and can modernise infrastructure without imposing higher taxes on citizens

The Meizhou Bay cross-sea bridge of the Fuzhou-Xiamen high-speed railway in Fujian province is under construction in January this year. The Chinese use state-owned enterprises to implement long-term goals, such as the modernisation of infrastructure, job stability, regional development and provision of social utilities. Photo: Xinhua
The Meizhou Bay cross-sea bridge of the Fuzhou-Xiamen high-speed railway in Fujian province is under construction in January this year. The Chinese use state-owned enterprises to implement long-term goals, such as the modernisation of infrastructure, job stability, regional development and provision of social utilities. Photo: Xinhua
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