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China, one of the world leaders in rail infrastructure, has put a freeze on building new subways.
>Many cities that binged on subway construction in recent years were hoping to replicate the success of earlier highway and freeway construction projects. - Liu Daizong, researcher
>Constructing a single kilometer of subway currently costs around 1 billion yuan ($157 million), anywhere from three to 10 times more expensive than the typical highway. Furthermore, subway fares in most cities remain extremely low and even small price hikes are often met with great resistance from the public. Limited ticket revenues make it difficult to recoup the costs of building and operating subways, leaving many new lines operating in the red. Their resulting dependence on government subsidies has only further exacerbated China’s public debt problem.
Discuss.
>Many cities that binged on subway construction in recent years were hoping to replicate the success of earlier highway and freeway construction projects. - Liu Daizong, researcher
>Constructing a single kilometer of subway currently costs around 1 billion yuan ($157 million), anywhere from three to 10 times more expensive than the typical highway. Furthermore, subway fares in most cities remain extremely low and even small price hikes are often met with great resistance from the public. Limited ticket revenues make it difficult to recoup the costs of building and operating subways, leaving many new lines operating in the red. Their resulting dependence on government subsidies has only further exacerbated China’s public debt problem.
Discuss.
