Trump infrastructure plan called chance for win-win cooperation
The $1 trillion infrastructure plan proposed by US President Donald Trump signals win-win opportunities for China and the United States, according to experts.
US Transportation Secretary Elaine Chao told The Boston Globe on April 21 that she expected Trump’s $1 trillion plan to debut this summer after the administration tackles tax reform.
“We’re on track,” Chao said of the infrastructure bill. “There’s a great deal of discussion over the most difficult part of the initiative, which is funding it,” she said.
Yukon Huang, a senior fellow at the Carnegie Endowment for International Peace, said China should tell the US that it has been improving infrastructure for decades, resulting in higher productivity, and the United States should do the same to boost competitiveness and exports.
In the 2017 Infrastructure Report Card released in March, the American Society of Civil Engineers graded US infrastructure D+. The D rating is regarded as “poor” and “at risk”, just a step above failing and unfit for purpose.
Scott Rechler, former vicechairman of the Board of Commissioners of the Port Authority of New York and New Jersey, said there’s over $3 trillion of infrastructure investment that’s required in the US just to bring the infrastructure up to par.
“This is a byproduct of literally decades of the government underinvesting in infrastructure,” he said. “We’re in the 21st century and we’re using infrastructure from our 20th century — and in some cases in our 19th century — right now.”
Gallup Polls in the past months show overwhelming US public support for infrastructure spending. In a March poll, 76 percent of Americans endorsed Trump’s infrastructure proposal.
“I think it would be a wonderful thing if the two countries could collaborate in this field because obviously, there are huge complementarities, said Pieter Bottelier, a visiting scholar of China studies at the Johns Hopkins School of Advanced International Studies.
Bottelier, a former World Bank official, also noted that the US needs a lot of money for infrastructure and China has the savings. “So this is an area that’s extremely important for potential cooperation,” he said.
China’s record in building massive infrastructure projects has been widely recognized. By the end of 2016, China ranked first in the world in high-speed rail mileage, expressways and urban transit systems, according to the country’s National Development and Reform Commission. Seven of the world’s largest container ports are also in China.
Contact the writer at chenweihua@chinadailyusa.com