"officials claim that technology is “already in place.” "
The railroad technology may be, but have they developed a way to lay track on permafrost, which may be melting due to climate change, that will keep the track suitable for 350 kph?
As for the tunnel, most long tunnels are drilled from multiple faces. Are they going to sink shafts in the Bering Strait to provide extra work faces?
Finally, do they really think a 13,000 km line, going through basically uninhabited territory, and taking two days to do so, can compete with an airplane making the same trip, on basically the same route, in less than a day, without the infrastructure costs?
They, or we for that matter, COULD build it, given enough money. But I doubt that it would ever pay for itself, much less make a profit. Which is probably why none of the other plans for an Asia-America railroad have ever gone anywhere.
On the other hand, a Beijing-London high speed line might be profitable, as there would be customers along the entire route.