RE: China unveils world's fastest bullet train: 262 mph
China was one of the first, if not the first entity to out-law smoking on commercial aircraft. It was not done because of health concerns. It was done to eliminate the need to spend tons of money, cleaning and/or replacing the intricate air filtration systems in the state-owned aircraft (built mostly by Boeing). This train is and will remain a national icon of sorts. I'm guessing that it won't follow the typical (or what once was typical) life expectancy of poorly built chinese products and buildings.
As for the China succeeding with high-speed rail, where America has failed (real or imagined), depends on how you measure success. Unlike AMTRAK, which is subsidized (irregularly) by the federal government, it is not owned by the government. It's cost are somewhat inflated, no doubt to ancient labor (read railroad) agreements about how far employees travel (instead of how long), as well as each state through which AMTRAK trains pass getting a piece of the action. On the other hand, China owns the source of production (a monopoly), as well as the purchaser (themselves), so the balance sheet can say anything they want it to say, even if they bleed budget (they have to do something with all those dollars they get from us) into the venture. I think what America should be concerned about, is our ability (or lack thereof) to sell "made in America" high-speed trains to China (who may become the preferred vendor) and to everybody else in the world.
