The Economic Impact of the Olympics (Běijīng Àoyùn yú jīngjì 北京奥运与经济)

Jörn-Carsten GOTTWALD

Clearly China, perhaps the world’s hottest market, does not need a major sports event to catapult an ailing economy back into growth mode, as was the case with the 2006 FIFA World Cup in Germany. On the contrary, the Chinese government will host the Olympic Games amid rumors of an overheating economy (growth accelerated to more than 11 percent in the first quarter of 2007). China possesses the largest foreign reserves of any country in the world — the government can spend lavishly to produce ultramodern stadiums for the games and to upgrade Beijing’s infrastructure.

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