Will The Beijing Olympic Games Stimulate Economic Growth In China?
Posted by China Sourcing CommentatorNov 3
Now that worldwide attention is focused on China, will China’s economy grow as a result of hosting the Beijing Olympic Games? How will this happen?
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Probably not directly. The Olympics cost a lot (in both construction and curtailing normal business activities temporarily) and it’s a distinct possibility that they won’t make up that investment. However, I don’t think that China wanted to host these games just to make money. They want to change the world’s perception of China. The rest of the world has a stereotype of China that they have high quantity but low quality, and the Chinese seem determined to change this perception. You can see this in the large scale of the opening ceremonies and the determination to beat the US, especially in sports where we are particularly strong. If they are successful in changing this view, then that could stimulate investment in China, as firms will no longer look there just to manufacture at a low cost, but a place where they can make high quality investments.
Contrary to the opinions stated here, I don’t think it will stimulate much growth. The reason why I’m saying this is because I read China’s economy is slowing down a bit. Not to a bad or recession level, but it will slow down. Its exports have weakened, demand isn’t as strong, and their real estate market isn’t doing so great. About Beijing, only 5 percent of economic output comes from the city, so the Olympics won’t help a lot. Nevertheless, China’s economy will remain strong. There’s still significant foreign investment and China’s own investments (which are big) may help reduce the pressure of an economic slow down. My source for this info comes from an article I have in the source.. Hope this helped.
China is one of the very few countries in the world that is still experiencing reasonable levels of economic growth.
Most western countries are in decline to the point where growth has slowed to a crawl or stopped.
I expect that to continue for at least another 2 years.
The Olympics wil have no significant effect either way for China.
Of course. Business will have boomed for China in the last five years, especially in the area surrounding the Olympics. Tourism will also draft in millions for China. Although they spent a huge sum of £21 billion on the games, they will make this back through business, property, commercial and other such services.
To make a contrast among these other good answers, allow me to input my two cents:
The Beijing Olympic games will stimulate some growth, maybe some at least to re-coup the expenses due to all the renovations that were made rather quickly after being chosen as the host city.
However, more is just to show what our country has in store, what we are actually made of and with complete ability and skill to accomplish.
Basically, we wish to destroy the impending thougts that may be prejudicial in this era for us. i.e: all Chinese are either farmers, shaolin monks, beaucrats, or a timid people that kowtow at every meeting.
I imagine that it will cost more than it will ever recoup, so its more about pride than economic growth
It already has with all the preparation and events forth coming.
they dont need to be stimulated…their economy is already at the top