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Biden’s Biggest-Ever Investment Plan for U.S. Still Trails China

  • U.S. aiming to boost ‘competitive edge’ against China
  • China’s greater investment also reflects catching up
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WATCH: Jared Bernstein, a member of the White House Council of Economic Advisers, discusses President Joe Biden's $2.25 trillion infrastructure plan.(Source: Bloomberg)
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What President Joe Biden touted as a historic U.S. federal investment program that will position the country to win the global innovation race still leaves it well behind China’s continuing, giant infrastructure upgrading campaign.

While the top-line for Biden’s American Jobs Plan is $2.25 trillion, China’s government and private companies pour the equivalent of trillions of dollars each year into new infrastructure ranging from transport to communications networks, water projects to manufacturing.