China’s steel output at 1.05 billion t for 2020, accounts for 58% of the global steel output

[Viet]

Take the Shanghai inner ring elevated roads as the example. It is a RMB 4 billion investment, using the loan from the World Bank, i.e. infra that built on debts. Its construction started in 1993. The inner ring road looks nothing special today, but it was indeed a huge investment to Shanghai back to mid 1990s'. At that time, Shanghai's fiscal budget surplus a year was about RMB 200 million; i.e. the investment on the inner ring road alone is equivalent to 20 years of the fiscal surplus. And return of the investment? There was almost no private cars in Shanghai back to 1993, even the road on the ground was empty, why we need another road that is above the ground?

But today, every one that has the experience to drive on the inner ring in the day time will immediately complain that, why this fxxking road could not be 4 or 5 lane wide, but only 2-lane in the width?

Inner Ring Road (Shanghai) - Wikipedia

en.wikipedia.org

1993 was still good in my memory. I studied first engineering program at a Germany university during the period. My fellow class mate came from Shanghai. He seldom talked about China though. Interestingly he invited lots of Chinese even officials to Germany. Judging their cloths they were not really rich. I drove them with my car around cities.
Vietnam back then was extremely poor, Shanghai had few car drivers, but we even had not enough people with bicycles.