Construction and engineering are not for the fainthearted, and the state’s lack of understanding of how the sector works is a big part of that. The construction industry contributes just 3.5% to gross domestic product (GDP), and gross fixed capital formation as a percentage of GDP is less than 20%. China, Canada and Australia have investment-to-GDP ratios of more than 25%, and construction sectors that contribute more than 7% to the economy. Rubin Renecke comments on Aveng.
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