China's Economy and the Beijing Olympics

China will host the 2008 Olympic Summer Games from August 8 to 24, 2008. Most of the events will be held in the vicinity of Beijing, with selected competitions held in Hong Kong, Qingdao, Qinhuangdao, Shanghai, Shenyang, and Tianjin. Since the International Olympic Committees decision in July 2001 to select Beijing as the host for the 2008 Olympics, China has spent billions of dollars for facilities and basic infrastructure in preparation for the international event. China anticipates that the 2008 Olympics will provide both short-term and long-term direct and indirect benefits to its economy, as well as enhance the nations global image. However, the experience of past host cities and Chinas current economic conditions cast serious doubt that the Games of the XXIX Olympiad will provide the level of economic growth being anticipated. This report will not be updated.