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Society and Engineer

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Economic Dimension-2010 Shanghai Expo
The Shanghai Expo is called “Economic Olympics” by some Western Media, which can demonstrate its economic value. Shanghai’s economic development has already entered into a bottleneck period since 2000. Hosting the Expo became Shanghai’s perfect opportunity to increase the economy’s reliance on service and high-tech industries and energy efficient ways of development. The Shanghai government has invested heavily in new fields of focus, including new material, aviation, biological medicine and communication technology and shifted undesired industries totaling $4.4 billion in output to other cities.
Although the initial investment is surprisingly large (RMB 400billion), the profits generated by all the industries (tourism, hotel, transportation etc) are also quite significant. It is important to remember that the Expo is not about short term profits for China, but national pride and long term economic developments. Also the seriousness which China has devoted to Expo is matched by many other countries and companies, eager to tap into China’s large consumer market.
However, it is also argued that the expo makes the bubbles in the real estate industry even bigger. The economic benefits of the expo may not be distributed evenly between those affected, which might make the current social problems in China even more serious.
By looking at both sides of the the impacts of the project, we may conclude that Shanghai Expo’s economic value may not be the most important factors that resulted in the decision of the central

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