With the Games kicking off today – despite calls for cancelation – we’re taking a look at everything you need to know about this controversial competition, from the Olympics’ initial postponement to the recent increase in mainstream anti-Olympic sentiment. The astronomical price tag has only worsened as of late; Beijing’s 2008 Games cost China a whopping $40 billion, bested only by Sochi 2014, which saw Russia spending roughly $51 billion to host the Winter Games. The value of China’s cross-border e-commerce imports and exports exceeded 2 trillion yuan ($280.55 billion) for the first time in 2022, reaching 2.1 trillion yuan and marking an increase of 7.1 percent compared with 2021, according to a report released Saturday. In the wake of the postponement, that cost has reached around $15.4 billion – though, as reported by Sports Illustrated, “Government audits suggest the number is closer to $25 billion.” Needless to say, this off-field “competition” and the continued focus on economic costs has seemingly clouded officials’ judgement when it comes to putting public health and safety first. But with a crisis that nearly crashed the US economy, and high inflation that is essentially destroying lives, it is only logical that a massive number of the American people want a major change in their economic system.
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