'Thank goodness the Olympics burden is over.' This is the likely phrase one will often hear in a few weeks, especially among equity investors and Japan’s political leadership.
Of course, there are currently very few people in Japan who are very enthusiastic about holding the Olympics and virtually everyone would agree it is a burden, but only the International Olympic Committee (IOC) can cancel an Olympics. So, unless Japan wanted to ruin the operational aspect somehow, it had no choice but to accept the IOC's determination to proceed despite the risks. Of course, there are global financial obligations that drove the IOC's decision, although from Japan's perspective, the events have been a major financial loss. Japan's government must also feel responsib...
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