Governor Arnold Schwarzenegger has been looking at China’s new
high-speed train lines while at the same time promoting Californian
exports and tourism. He would like to get a high speed rail system in
California. Biggest problem is California simply does not have money.
Indeed, the budget is $US19 billion in the red, and Governor
Schwarzenegger says he is hoping for some ‘creative financing’ from
Asia to help lower costs and get his state’s proposed high-speed rail
lines up and running.
China’s financial position could therefore provide a key competitive
advantage if California is also being wooed by better-established
high-speed rail systems from Europe.
According to the Sydney Morning Herald this is recognised by Michael
Clausecker, director-general of Unife (the Association of the European
Rail Industry), who has conceded that there is ‘something very
attractive about the Chinese incentives which the Europeans will find
very difficult to compete with’.