The Las Vegas Sun reports that a Chinese bank is prepared to fork over $7 billion to build the proposed maglev train that would run from Las Vegas and Anaheim. Export-Import Bank of China is saying they'll provide the loan on the project, which backers now are envisioning as a shuttle that'll whip Angelenos back and forth to Vegas. "[Maglev spokesman Mark] Fierro said development of the project could be one of the most significant economic events in Las Vegas history, because the city would become a virtual suburb of Los Angeles if trains could make the trip from Anaheim to Las Vegas in just more than an hour."

'People in Los Angeles could come to the Las Vegas Strip for dinner,' Fierro said. “This couldn’t be a more perfect technology for the kind of visitor we’re going to attract.” As for why China is loaning the money, backers point out the extensive maglev system in that country.

· Backers of maglev train say Chinese bank prepared to fund project [Las Vegas Sun]