Let the Games Begin

The Olympics are a huge deal for China with long-term implications. If all goes well they take another step toward being a world super power. If negative perceptions reign for whatever reason, there will likely be political and business implications. Pollution control could become a big new industry in China. A war on terrorism could start if terrorists try to disrupt the games.

I believe the US and China will grow closer or further apart as a result of the games. President Bush did not get things off to a good start with his political comments this week. Face is an important concept in China, but his advisers do not seem to understand it.

I've read that "hot money" or money invested for large, short-term returns may stream out of China after the games causing economic problems. I don't believe this and expect the games to have very little short-term impact. Long-term however, I expect their impact to be important for the future of US and Chinese relations and for China's relations with the rest of the world.

I love the Olympics and can't wait to watch. Enjoy.