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US, Europe combined infra spending less than China's

Western nations put less money into roads and bridges now than they did before the global financial crisis

Bloomberg 

Despite a crying need for better infrastructure, investment in it has actually fallen in 10 major economies since the financial crisis, including the US, according to a new study by the McKinsey Global Institute. Meanwhile, China is still going gangbusters on roads, bridges, sewers, and everything else that makes a country run. "China spends more on economic infrastructure annually than North America and Western Europe combined," according to the report published Wednesday. Economists around the world have been arguing that now is a great time to invest in infrastructure because ...

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First Published: Thu, June 16 2016. 00:15 IST
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