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Beijing After the Olympics
Once the final ceremony finishes, the drums and trumpets of the competitions would also cease. But would the city remain as vibrant as it would be after this world event? Investment sustainability and high demand are two highly invaluable economic concepts that can be looked at in order to ensure post-Olympics prosperity, or perhaps, an even better future for Beijingers.
Naturally, an economic downturn occurs in an Olympic venue once the major event finishes. Renmin University Professor Jin Yuanpu noted that a global event like this would catapult Beijing into a position of enormous importance in the international stage. But after this event, who would use the heavily-funded equipment and public and private investments deposited in the city? Various economists argued that a meltdown is highly unlikely. Jonathan Anderson, UBS Asia economist, suggested that the negative effects of the end of Beijing Olympics 2008 on the entire country are nearly negligible compared to previous host cities. China is such a huge economy that the conclusion of the Olympics games is synonymous to an ant-bite on a dragon.
But what about post-Olympics Beijing? Retired Dean of Peking University, Li Yining, noted that a long-term domestic demand growth and an popular urge by companies to adopt prudent financial management decisions can lead to continued investment growth. Even though demand in some sectors of the economy would drop in the short-run, creativity, practicality and innovation would be the key factors that would continually enhance the city's image and prosperity long after the Olympics in the city has ended.
So what's next for Beijing after the Olympics? Well, it's business as usual...