This seems like the worst outcome for Japan and best outcome for the IOC. Japan incurs all the cost of hosting the Olympics while reaping none of the tourist yen, while the IOC gets paid the broadcasting fee. At this point the optimal outcome for Japan is probably to cancel the game altogether.
Is it an example of the political pull of the IOC? The Asian culture of face-saving? Or plain old sunk cost fallacy? I honestly don't know.
Is it an example of the political pull of the IOC? The Asian culture of face-saving? Or plain old sunk cost fallacy? I honestly don't know.