BUSINESS

Chinese investment in US infrastructure helps boost US economy

2017-04-11 17:15 GMT+8
Editor Zhao Hong
By CGTN's Wang Duan
China's dominant train manufacturer, China Railway Rolling Stock Corporation Limited (CRRC), has just delivered a carriage to the U.S. for use on Boston’s Orange Line. The news has once again brought the expansion of Chinese rolling stock in the U.S. market sharply into focus. 
Since 2014, CRRC has taken in over a thousand subway cars and commuter train car orders across the U.S., including Boston, Chicago, Los Angeles, and Philadelphia. The Chinese company also established construction and manufacturing centers in the U.S. and recruited local workers. 
Considering the trade disagreements between China and the U.S., will the setting up of these centers and the creation of local jobs help alleviate present disputes?
China Railway Rolling Stock Corporation Limited (CRRC) /CFP Photo
Wang Huiyao, President of the Center for China and Globalization (CCG), an influential think tank in China, told CGTN's "The Point with Liu Xin" that Chinese investment in U.S. infrastructure will come to U.S. President Donald Trump's aid in helping his administration boost the economy.
Trump said he will ask Congress to approve a one trillion US dollar infrastructure bill over ten years. Meanwhile, China has already invested more than 10 trillion US dollars in infrastructure in China over the past ten years, investing 1.4 trillion US dollars in the first ten months of 2016 alone. Wang said China has experience that it can share with the U.S.
Even though there are many reasons for optimism over US-China cooperation on infrastructure investment, Wang pointed out that there are constraints that can potentially hinder Chinese partners from participating in U.S. infrastructure projects. 
During his recent meeting with Trump in Florida, Chinese president Xi Jinping said the U.S. is welcome to join the Belt and Road Initiative. If the U.S. participates, infrastructure cooperation can be a new opportunity for a win-win situation for the two nations.
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