Wednesday, June 18, 2008

A visual on construction costs

I mentioned yesterday that constrution costs keep going up, and commented that a lot of this growth can be attributed to increased competition for supplies with China and India. Via Paul Krugman comes this timely graph from The Oil Drum showing just how much construction is going on in China. It shows the percentage of concrete used by country for the last four years:

Notice that China's proportion of concrete used is increasing. Half of all the concrete in the world gets used in China.

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