Biden Starts Infrastructure Bet With U.S. Far Behind China
- China has already been spending big on road, rail and airports
- Recent presidents have struggled on infrastructure efforts
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President Joe Biden is betting that a multitrillion-dollar economic plan centered around infrastructure spending will do more than bolster an American economy hammered by the coronavirus pandemic: It will ensure his country’s competitiveness against China for decades to come.
“If we don’t get moving, they’re going to eat our lunch,” Biden told lawmakers in a pitch for his proposal shortly after his call last month with Chinese President Xi Jinping. “We just have to step up.”