Economic Competitiveness
The World Economic Forum listed infrastructure as one of nine elements crucial to a country’s sustained productivity and competitiveness. China currently spends about 9 percent of its GDP on infrastructure versus 5 percent in Europe and only 2.4 percent in the United States. Countries with the greatest mileage of high-speed rail lines tend to be the most globally competitive economic regions, including China, France, and Germany.
In June, China launched a high-speed rail line from Beijing to Shanghai, connecting two of the largest economic centers in the world. The new high speed rail line vastly reduces travel time, allowing passengers to travel 820 miles in 4 hours and 48 minutes. That is roughly the equivalent of traveling from New York City to Chicago or slightly less than the distance from Salt Lake City to Seattle. Currently traveling by rail from New York City to Chicago takes 19 hours, while a trip from Salt Lake City to Seattle takes over 46 hours and requires a transfer of trains in Sacramento, CA.
Reduced travel times allow businesses and markets to connect more efficiently and reduce the amount of lost time. With the construction of planned high-speed rail lines across the United States, similar travel savings can be realized within the United States.