China's government, worried about security and the prospect of unsightly protests, has made it more difficult for ordinary tourists to get visas this summer and has encouraged many of Beijing's poorer migrant workers to return to their homes elsewhere. But for VIPs, the city is rolling out the red carpet.
'For those who wish to be important in business in China for the next 20 years, people in China will ask you if you were here during the Olympics. And if your answer is 'No,' they'll ask, 'Why?'' says Matt Estes, a Beijing-based businessman who is helping organize a gathering for the Young Presidents' Organization, an international club largely made up of CEOs younger than age 45.
China, long a land of big potential, has become increasingly vital to growth and profitability for a wide swath of companies, especially as the U.S. economy has sagged. China is already the world's biggest cellphone market by number of users and the second-biggest market after the U.S. for products from oil and cars to personal computers. This year, the number of Internet users in China surpassed that in the U.S.
Showing up 'to show support for China' is key for multinationals with stakes in the country, says James McGregor, CEO of consultancy JL McGregor & Co. 'This is China's national achievement test, their way of telling the world, 'We've achieved. Give us credit,'' he adds.
Both the Chinese public and the country's leadership were quick to take offense when some heads of state publicly dithered over whether to attend the opening ceremony, following demonstrations against China's Tibet policies in London, Paris and other Western cities along the global Olympic-torch relay route.
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