Saturday, February 1, 2020

The negative economic impacts of World EXPO 2010 in Shanghai, China Essay

The negative economic impacts of World EXPO 2010 in Shanghai, China - Essay Example If the negative outcomes outweigh the benefits, it is always prudent that the country resists from hosting the event. Some of the considerations that a country considers among other things include environmental effects, economic benefits, social impacts as well as its ability to host the event successfully. It is always important that a country ensure that it has the necessary infrastructure to host large international events, failure to which, it may end up to engage in internal and external borrowing, something that may have far reaching economic impacts (Chalip, Breen & Hill 2003). This paper examines the economic impacts that were associated with the hosting of the World Expo that was held in the Shanghai city of China in 2010. This is an event that is organized under the United Nations umbrella and happens on a rotational basis in major cities of the world, after a successful bidding by the respective countries. It focuses on the effects the event had on the various macroeconomic economic of China, as well as that of other hosting cities for the same event. The World Expo 2010 was held in China, in both of the banks of Huangpu River; the event took six months, running from the start of May to October of 2010. The event was marked as one of the major World Expo in the customs of international and world fairs and Expositions. The event was the first of its kind that the city was hosting after 1992, something that influenced prior proper planning before the actual event was to take place. During the Expo, the theme that was settled at was, â€Å"Better City – Better Life;† the choice of the theme was to portray Shanghai as the next great city of the world (Abelson 2011; Crompton 2006). Indeed, many of the people that attended the Expo lived to ascertain the fact that Shanghai has been developed as the major city in the world, competing with other major cities in the world

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