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Translation - English 2008 Olympics—Goldman Sachs expects restrictions during the Olympics to slow the Chinese economy over the next two months
The Goldman Sachs Group says the Olympics and the Paralympics, rather than helping to stimulate the Chinese economy, will cause it to slow over the next two months due to controls—meant to reduce pollution and traffic during the Olympics—on China’s factory construction industry, motor vehicles, and mining, which will cause a short-term decrease in economic production.
Analysts Yu Song and Hong Liang indicate that restrictions in the area of the capital city, Beijing, and five neighboring provinces, figured as a percentage of economic production, will be about 26%.
Goldman Sachs indicates that these measures will cause economic activity to slow for both production and consumption during August and September, even though economic activity will recover in October, and expects that the Chinese economy will gradually weaken in the second half of this year.
Goldman Sachs states that the long-term impact of the Olympic Games on the economy tends to be minimal while the short-term impact seems to be more negative.