What Olympics mean for China

The 2008 Beijing Olympics are not just a sports event for China. Winning the bid for 2008 Olympics was a landmark event for China and China left no stone unturned in its preparation for the Olympics. With a spending of over $40 billion, Beijing Olympics are officially the most expensive games in the history of sports. Apart from being a symbolic victory for China, the Olympics have affected and will affect many other facets of China.

Political implications:
China’s ruling communist party has been surrounded by controversies around its policies on issues such as human rights, religious intolerance, censorship and treatment of Tibet protests. The Olympics torch relay was marred by protests in Europe and the US as activists saw Olympics as a stage to show their ire and opposition towards the regime. While some might agree that politics and sports should be kept separate and that allowing China to host Olympics is not necessarily an endorsement of all its policies, yet Olympics have brought the spotlight onto China and opened it to more media scrutiny and further criticism. This will put additional pressure on China to honor its commitment to better human rights record.

Environmental implications:
Beijing’s air pollution level was higher than World Health Organization standards. Olympics prompted Beijing to clean up its environment. Taking cars off the roads and closing factories is a step in the right direction and will help in the short term. But for a developing economy that will keep adding thousands of cars every month, it will be an ongoing challenge to curtail pollution. However, Olympics might cause China to change its energy policies to ensure lasting long term impact.

Tourism:
China drew more than 2 million visitors from around the world during Olympics. But Olympics will give a boost to China’s tourism industry even after the games are over. The host city Beijing transformed in preparation for the Olympics. From 220 mph fastest rail service in world to Olympics venues such as bird’s nest, Beijing promises a lot more even beyond the Olympics.

Business:
Olympics have not only given an opportunity to China to showcase itself and possibly attract more foreign investment in future, but have also presented a huge opportunity to companies around the world to lure the Chinese customer. This will undoubtedly give a boost to the Chinese economy. The question is – will China make billions more after the Olympics than it spent before the Olympics?