When looking at the Global economy and the down turn in most countries, must people wondered if the Chinese economy would take a downturn after the 2008 Olympic Games. It is said in the past that after hosting the Olympic Games it is possible to take a downturn because of all of the money that has been put into the games. In 1964 Japan saw an economic downturn after the Olympic Games. They went from 31.1 percent down to 5.2 percent. Also The Republic of Korea in 1989 saw a slip in their economy when it fell from 10.6 to 6.7. These falls can be a treat for any country but the thought of an increase in the economy and the privilege of hosting the Olympic Games are to great to pass up.
Now that the 2008 summer games are over the past is back to haunt them. Is the Chinese economy going to take a leap for the best or a plunge for the worse? Some people from the Chinese government and officials of the 2008 games believe that there are more advantages to the games then people might think and that the economy will show a significant increase. But some believe that there still might be negative consequences because of past history.
After looking at this article I realized that people are extremely worried about the economy and the downfall it is taking in not only the US but every where around the world. I knew that the economy was in a rough spot around here but not all over the world. The Chinese government is worried about their economy taking a downfall after these Olympic Games but I think after reading this article that they are going to be fine. China is such a power house that it would take a lot for them to plunge into economic disaster.
http://news.xinhuanet.com/english/2008-08/28/content_9728929.htm
1 comment:
Very relevant topic. Nicely written. Good post.
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