Long discussed and hotly debated for years, it appears if the magnetic levitation train (called ‘Maglev’) ferrying passengers (and tourists!) from Los Angeles to Las Vegas is really to get started in earnest, it will take Chinese funding- lots of it.
China announced last week that it is willing to loan $7 billion to build the project.
All that is needed for the loan to go though is a promise of support from the U.S. government.
Maglev officials said the Export-Import Bank of China is willing to lend the money with the knowledge that if the California-Nevada Super Speed Train Commission is unable to pay the funds back, federal officials will.
What’s a little petty cash transaction between friends?
{Also, a prior article is available on the high speed Maglev train issue by Las Vegas Backstage Access.}
Vegas Backstage Access (VBA) 