Tokyo's Chances Fade for 2016 Olympics

Tokyo once was considered a front-runner to host the 2016 Summer Olympic Games. Japan hasn't hosted a Summer Games since 1964, so Tokyo boosters could argue it was time for the Olympics to return. Moreover, with the country's deep pockets, financing the new venues and building the infrastructure needed for the Games wouldn't be a problem for the Japanese. Indeed, in the first round of the selection process in June 2008, Tokyo received the highest overall evaluation, besting fellow finalists Chicago, Madrid, and Rio de Janeiro.

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