Are the Beijing Olympics really that important?

Canada last held the summer Olympic games in Montreal in 1976 and it was a controversy from the top down. On the athletic front, it was the first time a host country failed to win a gold medal. From an economic standpoint the games were devastating. The government spent $2 billion a huge sum at the time. Corruption, inefficiency and stupidity on the part of the government were the main culprits: then mayor of Montreal, Jean Drapeau proudly stated that "the Olympics can no more lose money than a man can have a baby." He was mocked by regular Canadians and the media incessantly.

Back in 2001, with what I knew transpired at the Montreal Olympics, I openly rooted for Beijing to get the Olympic nod over my hometown of Toronto. My Canadian friends thought I was insane. The games would turn Toronto into a true 'global city' and bring fame and prosperity they said. While the former may be true, the latter probably wouldn't materialise. They didn't think about the 6-7 years enduring construction and traffic chaos building the Olympic venues. The huge amounts of tax dollars poured into construction and logistical planning of the games.

I've been to Beijing numerous times in the past few years and I know what they're going through and I'm glad Toronto's not going through it today.

Interestingly, the chief economist at UBS, Jonathan Anderson argues that he and his company "simply don't think the Olympics are important at all for China."

Interviewed by the South China Morning Post, he did research of "every Olympic host city since 1972 with regards to the proportion of the national population of each country that each city represented."

"Beijing only accounts for 1.1% of the Chinese population and under 3% of Chinese GDP; while Athens, Green and Sydney Australia account for 20% and 40% of national population, respectively an even higher share of national income", Anderson said. He hasn't even mentioned the already rampant corruption of the Beijing construction that has claimed a vice-mayor of Beijing or the controversy over the changing of the mascot names after they were used for over a year.

While this may be a fairly simplistic observation, I'd like to take it a bit further. Any new foreign visitor to polluted/traffic snarled Beijing, in hot and humid August no less, will be hard pressed to want to see the rest of the China after the two week Olympic games are over. Summer is probably the worst time to visit 75% of China due to the heat, humidity and dust!

Let's keep the Olympic hype in context folks, it's a two week event. I'd rather Canada pick up the world cup of football (not that that would ever happen...)-at least that's a month long event that incorporates cities around the whole country!

Ironically, after stating all this Olympic negativity, I may have an opportunity to be at the Beijing Olympics. I won't disclose the reason because it's not a sure thing at this point but to give you a hint, my camera will be leading the way. I'm more excited about the potential opportunity than actually attending the chaos.