Infrastructure gap in Asia threatens to hamper growth

Looking out at bumper-to-bumper Monday morning traffic crawling along the Philippine capital's main avenue, taxi driver Ranilo Banez shook his head in frustration.

Congestion has become so bad as the economy grows, he said, that a 10-kilometer trip that once took 30 minutes can stretch to two hours.

"We lose so much," said Banez, 64. "We waste a lot of gasoline and time."