South American railroads are embracing intermodalism as a means of promoting economic development and sustainability [4e40b7ba]. The decline of rail networks in countries like Argentina has highlighted the need for railway administrations to connect companies, universities, and governments to achieve efficiency, excellence, and innovation in intermodal transportation. South American railways can learn from the successful intermodal integration in North America and work towards improving their own systems. Meanwhile, China's high-speed rail network has proven to be a catalyst for export growth [de596663]. Investing in transportation networks, such as high-speed rail, can boost export volumes and facilitate interaction between exporting firms, leading to knowledge spillovers and improved export performance. The development of high-speed rail fosters geographic integration, reduces information frictions in international trade, and enhances access to vital trade knowledge. The study shows that exporter integration, facilitated by high-speed rail, leads to a significant increase in export revenue, a reduction in the unit price of exported products, and an increase in export volume. Smaller firms, firms dealing with rapidly changing products, firms located in remote regions, and firms exporting to less open destinations benefit more from the geographic integration facilitated by high-speed rail. These findings highlight the transformative potential of infrastructure investments, like high-speed rail, in driving economic growth and enhancing global trade. Policymakers should recognize and harness the power of infrastructure to ensure a prosperous future.
Arlington Mayor Jim Ross supports the proposed high-speed rail line that could run through his city, stating that it would be an economic game changer and put Arlington at the center of the region's transportation plans [943678c4]. Ross sees the high-speed rail line as a job generator for the entire region, particularly Arlington, and believes it is needed to accommodate the rapidly growing population in North Texas. He also highlights the importance of tourism in Arlington and the potential for the high-speed rail to enhance the city's tourism industry. Ross believes that the high-speed rail project is feasible and economically viable, with government and private funding available. He emphasizes the need for regional transportation solutions and views the high-speed rail as a major step towards achieving that goal. The planning for the rail line is well underway, and decisions on the operator and funding still need to be made. Ross sees the high-speed rail system as a way to move Texas into the future of transportation and praises the state for taking the lead on this initiative.
American railroads have suffered from underinvestment and poor governance, leading to delays, derailments, and environmental catastrophes [4424611a]. The focus on the operating ratio as a measure of efficiency has led to a neglect of maintenance and capital investment, resulting in a less reliable and slower rail network. Precision-scheduled railroading (PSR) has been implemented to improve efficiency, but it has primarily relied on squeezing labor and shifting costs onto the public. The industry's myopic focus on the operating ratio has hindered the decarbonization of rail and has led to service disruptions and embargoes. Shareholders should recognize that the current regime is not profit-maximizing and should invest in infrastructure and working conditions. Public investments in rail infrastructure should address coordination failures and reduce externalities. Rail infrastructure should also play a more prominent role in federal climate and infrastructure policy. Overall, the rail network requires targeted investment and improved governance to become more reliable, efficient, and sustainable [4424611a].