ASIAdocument.write(“” + m[today.getMonth()+1]+ ” “+ today.getDate()+”, ” + theYear + ” “);HOMECHINAWORLDBUSINESSLIFESTYLECULTURETRAVELSPORTSOPINIONREGIONALFORUMNEWSPAPERChina Daily PDFChina Daily E-paperChina Daily Global PDFChina Daily Global E-paperOpinion / Opinion LineEditorialsOp-EdColumnistsContributorsCartoonsSpecialsFrom the PressForum TrendsTalk from streetDebateEditors Pick:Syrian refugeescyberspaceV-Day paradeshrimp scandalTPPGames not cure-all for Brazil(China Daily) Updated:2016-08-09 08:04Comments Print Mail Large Medium SmallAn aerial view shows the Christ the Redeemer statue with the Maracana stadium, where the opening cermony of the Rio 2016 Olympic Games will be held, in Rio de Janeiro, Brazil, July 16, 2016. [Photo/Agencies]The Rio Olympics is expected to help boost the Brazilian economy at a time when Brazil is suffering an economic slump as a result of low commodity prices, exacerbated inflation and capital flight since 2014.
Since the 1984 Los Angeles Olympics, host countries have economically benefited from organizing the worlds largest sporting event, the only exception being Greece with the Athens Olympics in 2004.
The huge economic effects produced by the participation of a record 13,000 athletes and 500,000 visitors, along with the long service chain needed for the games, are expected to be enough to cover all the money Brazil has spent on hosting the games.
The sporting event is also expected to bring Brazil some long-term economic benefits. Some 64 percent of the total $11.6 billion Brazil has spent on the Olympic Games has been used for the building of infrastructure such as subways and rapid transit bus lines, which are badly needed for the development of the Brazilian economy.
At the same time, the Rio Olympics has also given a boost to Brazils capital market, which has risen 30 percent since the beginning of this year, in stark contrast to its lackluster real economic sector.
However, the Olympics is surely not a panacea to Brazils long-standing economic ailments. Its economic development still depends on substantial efforts to eradicate its over-reliance on bulk commodities and promote the development of manufacturing and infrastructure, which are problems Brazil was not motivated to address when high commodity prices brought it huge economic returns.
How to reduce corruption and change the governments credibility crisis caused by economic difficulties remains a challenge to the South American country. Also, Brazil is yet to ease the negative effects on its real economy resulting from the premature suspension of its capital account regulations, which has added fluctuations to its fragile capital market.0Related StoriesGoods from Brazil to increase in 2016Brazil now Chinas biggest source of beef importsBrazil arrests 10 over alleged Olympic terror plotClassical guitarists Colors of Brazil comes ahead of Rio GamesMost Viewed Todays Top NewsLawyers prove a welcome addition to chengguanCut in rates and reserve ratio undesirable奥运难民代表团(aòyùn nànmín daìbiaŏtuán): Refugee Olympic TeamWhat is the cause of Trumps popularity?G20 has bigger role in global growthForum TrendsIs free healthcare luxury in China?Is it easy to find an English-teaching job in China?Should the elderly get free bus rides?Is urinating in the pool really all that bad?Is facekini a weird fashion?Top five must-visit destinations for foreignersCan Shanghai method help British kids learn math?ColumnistsNew defense minister will not bring Japan closer to neighborsScrutinize US air strikes more closelyFeatured ContributorsStaying close to growth target, despite bleak global prospectsTHAAD – The American white lieStar BloggersWomen are more happier in family life than men: Survey By Women_of_ChinaAmong all the groups, women are most likely to find pleasure in family situations at home, especially those who have higher education and are in good health, according to a national household survey.The unique loanwords in our daily life By zoe_tingIn our daily life, more and more loanwords appear and change our habits in Chinese expression. Loanwords sound very similar with their original English words, and the process of learning them is full of fun to foreign students.Going “home” for the first time in four years By SharkMinnowIt has been a while since Ive contributed to this Forum and I figured that since now I am officially on summer holiday and another school year is behind me I would share a post with you.SpecialFive guidelines for foreigners seeking jobTips for traveling in ChinaSouth China Sea issue…| About China Daily | Advertise on Site | Contact Us | Job Offer | Expat Employment |Copyright 1995 -var oTime = new Date();
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