HONG KONG, Aug. 12 (Xinhua) -- Hosting the Olympics has raised China's global profile, and the country as a whole, including its cities like Hong Kong, should benefit in the long run, Moody's economist Sherman Chan said Tuesday.

The seemingly immense sum spent by China in preparing for the Games was partly borne by the private sector and will not be a fiscal burden for the government, Chan said.

The economist with Moody's Economy.com put the total spendings, directly or indirectly involved in the Olympics, at around 42 billion U.S. dollars.

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Posted by boyang at August 12, 2008 8:12 PM