Recent data shows that 46,000 of the 617,000 bridges in the U.S. are in poor condition with 17,000 of those "at risk of collapse from a single hit." The situation came to the forefront after the Baltimore bridge collapsed in less than one minute after being hit by a 100,000 ton cargo ship on March 29, 2024. However, bridges are also susceptible to damage from hurricanes, earthquakes, and even extreme heat.
Tag: infrastructure
Developing Countries Owe China at Least $1.1 Trillion—and the Debts are Due (Macro News for November 4, 2023 – November 10, 2023)
Over the past 20 years, China made about $1.1 trillion in loans to developing countries to help build infrastructure. Experts now estimate that almost 80% of these loans have been extended to nations that are struggling financially. Over half of the $1.1 trillion in loans are currently due to be repaid.
South Africa’s Energy Crisis Poses ‘Existential Threat’ to Its Economy (Macro News for February 11, 2023 – February 17, 2023)
South Africa's extended energy crisis prompted the nation's president, Cyril Ramaphosa, to declare a national state of emergency. Ramaphosa stated the energy crisis was "an existential threat" and that South Africa's number one priority was to "restore energy security." Ramaphosa's declaration carries even more weight given the nation's official unemployment rate is 33%.
What Biden’s Infrastructure Law Has Done So Far (Macro News for March 5, 2022 – March 11, 2022)
The Infrastructure Investment and Jobs Act of 2021 is beginning to impact states and local communities as construction begins on numerous projects. The law provides $550 billion for infrastructure investments over a five-year period. Bridges, roads, railways, water systems, public transit, and waterway improvements can all be funded from the legislation. Approximately one-fifth of the $550 billion will be spent during 2022.
Pearson Economic News 