Monday, December 3, 2012

Infrastructure: State Capitalism

China has been developing infrastructures around the world and engaged in long term contracts for the past fifteen years at least, ones that I am aware of.  Though, it may not be common knowledge that:

"China State Construction & Engineering Corporation (CSCEC), reckoned by International Construction to be the world’s biggest builder, is renovating the Alexander Hamilton Bridge in New York, helping erect a huge tower block in Moscow and creating a massive tourist resort in the Bahamas. China Railway Construction Corporation (CRCC), the second-biggest, is building Mecca’s new metro system."

China is now the player in the global architecture engineering and construction sector.  In some cases, it is also taking on the management of the infrastructure it develops, all the more reason to build it well.

"In July, in one of the first such deals involving a Chinese firm, China Communications Construction (CCC) signed a deal to build a highway in Jamaica and run it for 50 years."

Read the complete article at The Economist here.

No comments: