Economics Development Impacts High Speed Rail

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Economics Development Impacts High Speed Rail Tom Kayo TMLT601, I001, Fall 15 American Public University Emmet Fritch December 26, 2015 Abstract This paper premise is the economic development impacts of transportation in general, as examined by Kumares, Sinha & Labi (2007). Multiple studies have revealed that investments in public transportation ultimately drives productivity and economic growth (Kumares, Sinha & Labi, 2007). This paper however will move away from highways and most common types of transit systems to focus on high speed rail and its potential economic development impacts in the United States. By examining additional resources such as World Bank analysis, papers from the MIT library, and reports…show more content…
As a result, these areas of China which is still a mainly rural country saw more infrastructure developments and better access to other services such as internet. As more rural Chinese left for the bigger cities, those who returned brought back new ideas and items that might not have been accessible in these rural areas before. Moreover the report found that due to the fact that distance between major economic hubs in China was considerable reduced, the number of business related travelers increased by about 70%, contributing to making China become the second largest economy in the word. So if investing in high speed rail has worked in Europe and in China, why not in the United States? * United States The Obama administration made high speed rail development one of its priorities as early as 2009. The idea according to the Federal Railway Administration (2009), was that increased security measures in airports, higher fuel costs as well as congested highways and airports would make high speed train a more suitable option for travelers. In addition to that, in the midst of the great recession, it would create much needed jobs. Six years later, not a lot of progress has been made and this for multiple reasons including political ones. So what exactly is stopping this project from advancing? Are there actual economic benefits for the US? High speed rail project in The United States * Overview The
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