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The Thomas Crampton Channel
UBS Economist: Olympics "No Big Deal"Posted by Thomas Crampton, August 8, 2008 5:38 PM
Journalist and blogger Thomas Crampton is now posting some of his work on Danwei. Jonathan Anderson, an economist at UBS, today released a study using Olympic history and population to assess likely economic impact of the Beijing Olympics on China's economy. His conclusion: The Olympics are "no big deal". We published this chart twice before in our Asian economics coverage - but with the continued flood of interest around the opening of the 2008 Olympic Games and the seemingly endless questions about what they mean for Chinese growth, we thought this would make an ideal initiation for our EM Daily Chart series.
There are currently 4 Comments for UBS Economist: Olympics "No Big Deal".
Comments on UBS Economist: Olympics "No Big Deal"Granted, economically the Olympics is no big deal. If I remembered correctly, which I am not sure, even President Hu himself said not to have unrealistic expectations of the Olympics economically. What is the real big deal is the impact it will have on China both culturally and politically. For the past 7 years, and especially so for the year leading up to the opening ceremony, the common Chinese people have be exposed to western ideas, philosophy, and culture like they never have before. And believe me, the central government wouldn't admit it, but organizing the Olympics have allowed them to get a better understanding of western culture and get a since of how far behind they are of international standards and how much more they have to go if they want more respect at an international level. Besides, the Olympic games is more than about marketing and profits, it's about the Olympic spirit. It's about athletes comping from all nations putting aside their differences to celebrate human triumph and the human spirit, remember? Oh yeah, that was sold to the highest bidder long ago by the capitalists. Shame... No big deal except for all of the water and power diverted to BJ, the factories closed and the laborers booted without pay from the city. nanheyangrouchuan. Can I ask is that really true? I think that is shocking, I heard about the power restrictions. Seems about seven years of planning has been a big farce. 诚然,奥运对北京经济的拉动作用远远不能影响到GDP。但是不要忘记这些年中国GDP的拉动是靠外资,准确说是外商投资。奥运对中国经济的意义在于改变外国人对中国的“看法”,从而进一步拉动在华投资。不过目前好像出了点状况,也就是投资过剩,也就是我们说的“热钱”。当然整个奥运计划不是2008才做的,估计在2005年指定奥运方案的时候,那时候正是投资拉动GDP大幅增长的时候,当局并没有意识到2008年会出现这样的状况。 |
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