The world needs infrastructure — and if the West doesn’t take advantage of that need, China definitely will.

The Road To Prosperity

BY DEREK THURBER, SEPTEMBER 1, 2011

Infrastructure: It ain’t sexy, but back to FDR and before, it’s been the first trick leaders reach for when they need to create jobs and build capital. However, the global downturn of the last few years has seriously hampered national infrastructure projects. The initial stimulus packages passed by the United States and European countries have been followed by years of austerity measures; fear of increasing debt burdens has made legislatures from D.C. to London and beyond shy of taking on new projects. And yet, as Justin Yifu Lin argues in a new piece for Foreign Policy, infrastructure is exactly what the world needs most right now, most of all in the developing world, where 1.4 billion people have no access to electricity and 2.6 billion live without basic sanitation. Investments in developing world infrastructure are not charity, Lin points out: “It will also create jobs and generate growth in advanced economies. Most of the capital goods required to build electricity, sewage plants, and roads are produced in the United States and Europe.”
MORE:

http://www.foreignpolicy.com/articles/2011/09/01/paving_the_road_to_prosperity

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