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  • Anforme What can economists learn from the Beijing Olympics?

Anforme What can economists learn from the Beijing Olympics?

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Stephen Romer reviews what China gained by hosting the Olympic Games.

Summary of Key Points:

  • Officially, the Chinese spent £20 billion hosting the Olympic Games in 2008 but a comprehensive costing implies that £20 billion is actually a significant underestimate.
  • Building the required facilities for the Olympics in Beijing diverted resources from other regions.
  • Staging the Olympics in Beijing led to knock-on effects in agriculture and energy sectors elsewhere in China.
  • When it sought to host the Olympics the Chinese government pledged to meet standards on human rights and the environment and faces criticism for failing to honour those pledges.
  • The Olympic Games is always a highly politicised event.

This article is from ET Volume 15 Issue 2.

Stephen Romer reviews what China gained by hosting the Olympic Games.

Summary of Key Points:

  • Officially, the Chinese spent £20 billion hosting the Olympic Games in 2008 but a comprehensive costing implies that £20 billion is actually a significant underestimate.
  • Building the required facilities for the Olympics in Beijing diverted resources from other regions.
  • Staging the Olympics in Beijing led to knock-on effects in agriculture and energy sectors elsewhere in China.
  • When it sought to host the Olympics the Chinese government pledged to meet standards on human rights and the environment and faces criticism for failing to honour those pledges.
  • The Olympic Games is always a highly politicised event.

This article is from ET Volume 15 Issue 2.

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