Surge in US government spending pits America against China’s state capitalism. Which is doing better?

Apr 9, 2021 | INVESTING

Late last month, the Biden administration unveiled a US$2.3 trillion programme to modernise US infrastructure. The American Jobs Plan can be broken down into four major spending components over the next decade or so: US$621 billion on upgrading and repairing transport infrastructure and transit systems; US$650 billion on improving life at home, quality of drinking water and broadband access; US$400 billion on improving elder care and caregiver salaries; and US$580 billion on research,…

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