![]() Image: Kanaka Menehune |
The outsourcing of the bridge's construction to Shanghai Zhenhua, a subsidiary of Hong Kong-listed China Communications Construction Co., reportedly saved the state of California about $400 million.
Cate Long, a blogger at Reuters, argues that the U.S. economy will never recover if American companies and public utilities continue to outsource infrastructure projects overseas. She writes on the MuniLand blog:
"In times of fiscal stress it’s easy to understand why public entities are trying hard to cut costs. But this 'cost cutting' is really just off-shoring American jobs. Something has to give — we can’t recover without creating American jobs. It’s our choice, and I choose spending more and creating jobs at home."
Shanghai Zhenhua claims that it will not be making a huge profit on the bridge's construction, and that its real goal is to gain expertise in a new field. As the video below by Bloomberg shows, Chinese companies in recent years have demonstrated a fast-growing facility in making the longest and strongest bridges in the world.
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