We’re getting beat by Estonia.
Not that there’s anything wrong with the tiny state on the Baltic Sea. But the nation that built the Hoover Dam, pioneered the Interstate Highway System and created the best aviation system in the world, is rapidly sliding toward the bottom of the list when it comes to infrastructure.
Infrastructure is the economic backbone of any modern society. Without a reliable, functioning system, things we take for granted would fall apart: roads and bridges, schools, public and private transportation, the energy grid that powers our lives, the water we drink. But today the United States no longer leads the world in infrastructure competitiveness. Countries like the Netherlands, South Korea and Singapore now rank in the top 10, according to the World Economic Forum, while the United States, once No. 1, has fallen to 14.
If this does not concern you, it should.
Building America’s Future, a national and bipartisan coalition of state and local elected officials that I co-chair with New York Mayor Michael Bloomberg and former California Governor Arnold Schwarzenegger, recently updated Falling Apart and Falling Behind, a comprehensive report on the state of America’s infrastructure.
What’s the bottom line? Our legacy of advancement and innovation – the very things that made the United States an economic superpower – is at risk. Global competitors are racing ahead. They’re doing it by making smart, long-term investments in modern networks, such as rail, ports and electrical grids, to meet the demands of the global economy.
A case in point is the investment in port infrastructure made by our competitors in anticipation of larger vessels becoming the norm once the newly widened Panama Canal is completed. Since 2000, China has invested more than $5 trillion in its ports. Brazil has invested more than $250 billion since 2008.