History
China is in the midst of a massive upgrade of its transport infrastructure. Until recently, China's economy was able to continue to grow despite deficiencies in infrastructure development. This is no longer the case, and the Government realizes that to keep the economy moving forward, they need an efficient system in place to move goods and people across the country. According to World Bank statistics, goods lost due to poor or obsolete transport infrastructure amounted to one percent of China's GDP as recently as the most current survey (mid-1990s). Logistic costs account for 20% of a product's price in China, compared to 10% in the United States, and 5% in other developed countries.
Ports are being improved for greater use of China's waterways, and airports are being improved across the country. Related industries such as construction equipment, engineering, container security, and electronics and safety devices have also grown rapidly.
Read more about this topic: Transport In The People's Republic Of China
Famous quotes containing the word history:
“Well, for us, in history where goodness is a rare pearl, he who was good almost takes precedence over he who was great.”
—Victor Hugo (1802–1885)
“The true theater of history is therefore the temperate zone.”
—Georg Wilhelm Friedrich Hegel (1770–1831)
“It’s nice to be a part of history but people should get it right. I may not be perfect, but I’m bloody close.”
—John Lydon (formerly Johnny Rotten)