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Beijing Earmarks $40 Billion to Get in Olympic Shape
Reuters ^ | June 28, 2005 | Reuters

Posted on 06/29/2005 2:41:12 AM PDT by Einigkeit_Recht_Freiheit

BEIJING — Beijing plans to pump nearly $40 billion into a massive infrastructure building spree to make sure the city is ready to host the 2008 Olympics, state media said on Monday.

The groundwork building drive will dwarf Beijing's $2 billion Olympic operating budget and the $2 billion it has put aside for venue construction.

"Beijing will raise 320 billion yuan ($38.7 billion) from home and abroad for building 860 infrastructure projects before 2008 to facilitate smooth operation of the 2008 Olympic Games," Xinhua news agency said.

Over half the money -- 184 billion yuan -- would go towards expanding the Chinese capital's subway, light rail, highway and other transportation systems, Xinhua said.

Beijing is home to more than 2 million cars, and counting, and its crippling traffic jams have prompted much hand-wringing about transportation and air pollution during the Games.

The energy sector, struggling to keep up with skyrocketing demand, would be another big target in the spending spree, receiving 50 billion yuan, Xinhua said, quoting the China Construction News.

"Another 15.5 billion yuan will be used to dismantle 69 villages in the city proper," it said.

The report did not provide further details, nor did it say where people living in the dismantled villages would be moved, but many old "hutong" lanes and traditional courtyard homes are disappearing every year.

Earlier this month, hundreds of farmers protested in a Beijing suburb after being forced off their land and not offered compensation or resettlement to make way for the Shunyi Olympic Aquatic Park, the venue for 2008's rowing and canoeing competitions.

Investment in "water control" and environmental improvement projects would reach 34 billion yuan, Xinhua said.

Improving air and water quality in the heavily polluted city is key to the city's drive to be ready for the Games.

TOPICS: Extended News; Foreign Affairs; News/Current Events
KEYWORDS: china; investment; olympics; pollution
In further news, the central government also declared that persecution of Jews would be halted during the lead-up and actual Olympic event.

Oops, sorry, that was 1936 Germany. I am sure you can understand why I was confused.

1 posted on 06/29/2005 2:41:13 AM PDT by Einigkeit_Recht_Freiheit
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To: Einigkeit_Recht_Freiheit


Wonder what your thoughts are about this?

Have a good day.

2 posted on 06/29/2005 3:23:47 AM PDT by Chgogal ("Congressmen who willfully...during war...damage moral...should be arrested, exiled or..." Lincoln)
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To: Einigkeit_Recht_Freiheit

I bet $25 Billion of that money has been earmarked to arrest and torture Christians.

3 posted on 06/29/2005 3:51:02 AM PDT by SkyPilot
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To: Einigkeit_Recht_Freiheit

Sounds like they might postpone the Taiwan invasion thingie.

4 posted on 06/29/2005 4:23:53 AM PDT by tkathy (Tyranny breeds terrorism. Freedom breeds peace.)
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To: Chgogal

I read the article and agree with the author. The energy issue is the most contentious of all, although other resources are extremely important, none has the potential to escalate into conflict like energy.

It is a return to the mercantilist rivaliries that waned during the 20th century.

IMHO, I think that we need a double pronged strategy in which the United States both confronts China and confonts its own addication to wasteful use of resources.

The first part involves diplomatically, but agressively checking the Chinese in their attempts to gain full control over strategic resources. As good capitalists, we should not outright refuse, but the rules of the game need to be equal on both sides.

On the second issue, America needs to take the technological lead to change the economic growth/resource use paradigm. For all those in tune with reality, it is obvious that our planet has limits to the amount of resources it can provide sustainably. To this point economic growth has always been coupled with increase use in resources. We need to change this and it can be done through technology and incentivised through innovative pricing mechanisms.

We will always need more energy, but there is a heck of lot that is wasted that could save a lot of money and perhaps even make America stronger.

5 posted on 06/29/2005 4:38:23 AM PDT by Einigkeit_Recht_Freiheit (“There is a law – a law of nature. Man is not the ruler.")
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To: tkathy

Yeah--at least its $40B that they won't be spending on their military. It would be stupid if they were going to spend that much AND invade Taiwan before 2008. An invasion of Taiwan would no doubt put an end to their Olympic ambitions.

6 posted on 06/29/2005 5:12:56 AM PDT by rbg81
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To: Einigkeit_Recht_Freiheit; Golden Eagle
From what I'm piecing together it appears to me China is putting itself in a position to take huge quantities of energy off the market for its own use. It also appears to me that we are letting our technological advantages slip through our fingers. Here are two interesting articles that hopefully you haven't read yet. The first speaks of JDAM technology and how the one company in the US (Indianapolis-based Magnequench Inc.) is closing and moving to China. The second article describes the energy assets that China has or is in the process of acquiring. I'm a bit concerned considering how the CIA and our think tanks have failed us in the last 10 years.

Hope you have a nice day. I mean that sincerely. Ach ja, wo wohnen Sie in Deutschland?
7 posted on 06/29/2005 9:20:34 PM PDT by Chgogal ("Congressmen who willfully...during war...damage moral...should be arrested, exiled or..." Lincoln)
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To: Chgogal

Thanks for the ping. And the very insightful link from the Weekly Standard! A must read for all!

8 posted on 06/29/2005 9:37:23 PM PDT by Golden Eagle
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To: Golden Eagle

It was posted on FR here

9 posted on 06/29/2005 9:47:08 PM PDT by Chgogal ("Congressmen who willfully...during war...damage moral...should be arrested, exiled or..." Lincoln)
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