Were the Olympics worth it?

Posted on the Chinese MSN site, an article (that appears to have originated at ifeng.com) discusses whether the Beijing Olympics were worth their unprecedented budget, with opinions from economists and average readers, pro and con. But the article never says what the graph makes clear: over half of those surveyed said the Games just weren’t worth it.

Is it worth it for China to spend so much money on the Beijing Olympics?

According to a report, China has spent about $43 billion on the Beijing Olympics; this number makes the Beijing Olympic Games the most expensive Olympic Games in history.

It depicts China as a country that spends money improvidently and it also starts a debate among people on the success of the price paid. Some proposed on overseas Chinese Internet chat rooms that spending the money on helping the poor would be worthier.

South China Morning Post published comments that “the Olympics are really expensive, but a value for the money,” “investigate carefully and you will find, among the expenditures, most of the money — about $40 billion USD — is spent on roads, subways, sewage treatment, garbage management, pollution control and other aspects.” “For many Beijing residents, it spent 40 billion USD in value.” The well-known Chinese economist Zhang Wuchang also said that, “overall, money is spent. It is said that the Beijing Olympic Games spent 300 billion yuan. Is it worth it to spend that much money? Economics cannot work out a reliable answer. It has been said, sometimes one must spend crazily in order to reach satisfaction, but this time it is not that easy to reach satisfaction.”

Is it worth it? Online surveys show big differences:
In a survey in which nearly 70,000 people participated, 36.4 percent of Netizens believe the money has been spent in deserving places, “This investment is not excessive at all,” while 13.3 percent of Netizens think they still need time to see. “The results need some time to be evaluated.”

EDITOR’S NOTE: Here, the article gives respondents’ reasons for saying the Olympic spending was justified.

“Absolutely! Reasons:

1. A lot of investment is in the land of China, most of the builders are our brother workers and farmers, it provides considerable employment opportunities to them.

2. The expenditure created a hot spot of consumption and promoted economic development; it can yield more than building a Disney in Shanghai.

3. To show the world China’s charisma and economic and technological strength, to a certain extent, reversed the prejudice of the world’s people toward China. We have to know that 75 percent of Americans do not apply for a passport to go abroad. They know little about China. Most Westerners’ impressions of China are completely stuck in the early part of the last century: backwards, ignorant. It’s like Zhang Yimou’s movie “Raise the Red Lantern,” that kind of reflection of ancient China, and so-called cult classics that were able to reach into the world (to have Zhang as the director of the opening ceremony is an excellent arrangement). This leads to the vast majority of the Chinese products can only be sold at a stall; no one would believe that a backward country can produce goods with good quality.

4. Strike out this major brand China, without this major brand being their support, Chinese enterprises have no ability to make their own brands, overseas Chinese people would have no backbone. We cannot look too directly at the problem.”
 
“More valuable than buying U.S. treasury bonds.”

“Let history prove everything!”

“The left half of the netizens proposed their different opinions, they think ‘if the statistic is correct, some of money indeed is not worthy.’”

EDITOR’S NOTE: And here, it gives arguments against the spending.

Why not worthy? Respondents gave their reasons. Some excerpts are as follows:
 
“For Beijingers, it is valuable! For people across the country, it is not!”
 
“Many schools can be built, more poor patients can have their lives saved!”
 
“If we spend more money, we’d better use it to develop our military force.”
 
“Donate more money to the poor children!”

“China, if you are already a strong nation, why is it necessary for you to show off? China should be practical about doing things, not proving anything to the world. We should boost our economics, education. Spending money on public sports, enhance people’s physique (especially primary and middle school students)! Not just fight for the gold medals!”

“We are all Chinese, but while Beijingers live in a blue sky and green water environment, there are too many people short on basics in China and without enough clothes to keep them warm.  The money has built all of China in Beijing, it’s unfair!!!”

“Think of what environmental projects Beijing can do with the 160 billion it invested in the Olympics! If it took this money and invested it in Three-North Shelterbelt, these areas with backwards economies, where peasants’ wages are quite low, allowing for the planting of a 60 yuan tree, then, looking after these trees for 5 years, and if every year they give 20 yuan, with many people doing it, then we can calculate how much reforestation there is when 160 billion is invested in 100,000 square kilometers! Accepting 10 meters between the trees, in one square kilometer there must be 10,000 trees, must be 1.6 million yuan; 160 billion can forest 100,000 square kilometers! It would correspond to the area of three Taiwan provinces!! That is burned in Beijing in 10 days, so the money could have made three green Taiwan Provinces! The money put into forestry does not include the amount of farmers’ income; farmers can also rely on these woodlands for additional revenue. Let alone other income; the number of mushrooms can increase revenue a lot for poor farmers! I know my way of counting has some flaws, but I believe most of them are correct. And I’m willing to bet that in Beijing no matter how much money you invest on environmental improvement, it is still hard for you to see any big improvement. If you don’t believe me, let’s check next spring, Beijing will still have its huge dust storms blowing, and the numbers won’t be any better!” ❑

– Translated by Susan Zhao

ORIGINAL STORY: 北京奥运会钱花得值不值 网友存分歧