Having transferred high-speed rail technology to state-backed groups in exchange for access to a vast market, multinationals find they have created their own low-cost competitors
Wuhan station in central China was completed last December amid a spending programme to ease bottlenecks in the country’s ageing rail system. The investment formed a central component of the government’s stimulus package
There was more than a little historic symbolism on display as California governor Arnold Schwarzenegger posed for photos in front of a Chinese-built bullet train in Shanghai last week.
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