The sacred Olympic flame came on and then went out. In between miracles were made in the architecturally challenging and aesthetically astounding Bird's Nest, the myth-imbued Water Cubic and other tournament stadiums in Beijing and elsewhere.
The Beijing Olympics in 2008 broke record in record-breakings. On its scorecard, more new world records have been set than in any other single Olympic Games throughout its modern history.
Up until this event, some world records in an aura of glory had been considered as the ultimate limit for human capability: speed, alacrity, muscular tone, etc. Still further breakthrough in pushing back the frontiers of human ability to defy gravity and aerodynamics is not impossible.
As the host nation, China revels in its smashing successes, having garnered 51 gold medals and a total of 100, beyond its wildest expectations.
And its success goes way beyond its haul of medals. The outcome is the testimony to the nation's delivery of its single-minded commitment to a great mission.
Athletes and visitors are left with an indelible impression about the Chinese relentless search for excellence, their ardent attention to all the details of arrangements, and to the nuts and bolts of the operating system.
China has raised the bar for its legendary hospitality. The success has certainly silenced those who alleged that a polluted Beijing is not fit for athletes to bring forth their best. For a moment, those who place China down for "bad records" thought they could put out the torch flame during the relay and thus embarrass China. At the denouement, they had nothing but their folly to show for it.
The host nation is perceived to enjoy some special advantages. The athletes of other participating countries, however, affirm that the Games were fair in the Beijing Olympics.
The referees and judges have maintained their professional integrity by a high standard. And the Chinese athletes' performance is undisputed. One advantage denied to other nationals is perhaps the encouragement from the locals.
The deafening cheering from the Chinese audience certainly drove up their adrenaline to its highest possible level. As the ancient saying goes, a success comes from three factors: promising timing, propitious venue, and popular support.
Obviously, all this is no substitute for the Chinese athletes' sheer hard work and unfailing performance in the tournaments.
China has won the most gold medals whereas the US leads in harvesting medals of every hue. Both countries may have benefited from their economic underpinnings. The US is the undisputed champion in its economic might. And China is catching up with the developed countries in the breakneck speed of a sprinter and with the stamina of a marathon runner.
Inevitably, Olympics and economics are linked. No doubt, China could not have made such accomplishments in the sports arenas without its fast growth over the years.
This year happens to mark the 30th anniversary of the launching of the reform and opening-up program. A nation, which had been held in ridicule as a pack of East Asian Invalids, finally emerges both as an economic power and a sports power.
There is certainly no one-to-one correlation between a country's medal standing and its economic size. Several very small nations beat the big nations to it in per capita terms.
For a participating country, picking a couple of medals does not have a lot to do with its economy, but amassing heaps of medals certainly does.
Behind the massive investment in infrastructure facilities for the 2008 Olympics, China has over the decades increased its expenditure on education, health and sports facilities for the general public, hence its Olympic accomplishments. And China's sustained economic growth will greatly augment the pool of promising Chinese contenders for the medals to sustain its Olympic success.
Triumph should give a nation more confidence to examine its weak spots. Keeping sober at all times is crucial. China is now a big sports country, but not yet a sports superpower. The silence of China's national anthem and the absence of its national flag in the victory ceremony for some high-profile games indicate that this country has yet to demonstrate its prowess outside its home turf.
On the other hand, China's dominance in some sports may not be the priority areas of some countries. The situation would probably change if other countries wake up one morning with a fancy to ignore the Chinese landmark and prowl in its territory.
Golds are important in the Olympic Games, but medals of other hues are also valuable. The cascading gaps in performance from the gold medalist all the way down could be as narrow as a nanometer.
In this sense, silvers and bronzes are only a little worse than golds. Winning golds in some sports while missing lots of silvers and bronzes in others could be diagnostic of structural issues.
The same is true of economics. What is important is the overall competitiveness of the economy. China is recognized as a big economy, in aggregate terms. It is not yet an extraordinary economic power.
China has gained tremendous progress in its infrastructure development and as a corollary, its manufacturing. But there are still some sectors which trail those of advanced nations. China has yet to move up on the value chain in its productive activities.
For that to happen, China will have to acquire its own intellectual property rights, secure beachhead in the high-tech domain, and improve the quality of its labor force. The to-do list is still long.
To keep the economy strong, the country has to be open and reform-minded. To remain competitive in the Olympic playing ground, you have to do the same.
Sports globalization features prominently in this tournament. Coaching outsourcing is popular. For instance, the Chinese coach other nation's teams, whereas the Chinese teams' lift-off benefit from non-Chinese coaches.
You do not know sometimes whom you should cheer for. Perhaps for both sides in the game. Other nation's success has your nation's contribution. You are not separable from the rest of the community. You are inextricably engaged in the globalized economy, or globalized sports. The Beijing Games' resounding catchphrase, One World, One Dream, should also be the catch phrase for the international community so far as economic integration goes.
This brings me to the issue of eugenics. Eugenics could be a controversial issue, if not interpreted and treated in the right manner. It is probably safer to say that family planning and advancement in medical science can improve the health indicators and maximize the potentials of the human race.
The best eugenics, in my opinion, is the regular practice of macroeconomic calisthenics to improve the overall development of the country. Sustained economic development, supported by sound social policies aiming at improving inclusive growth and shared benefit for the nation, paves the way for the mental and physical health of the people through investment in health and education.
Investment in physical infrastructure, including the sports facilities, will not work if left alone. A balanced approach is the slam-dunk for the Olympic Games, and for the economies as well.
The author is the former vice-minister of finance of China and former vice-president of the Asian Development Bank who has just finished his term and returned to China.
