Generate text that refutes this claim: COUNTERPOINT Any large expenditure in one area will stimulate regeneration. Considering that the cost of hosting the London 2012 Olympics is predicted at £2.375 billion, expected to rise far higher, regeneration is the least that can be expected as a le  The Olympics are a showcase. Hosting the Olympics can be a way of making a strong political point because of the intense media scrutiny that accompanies the games. During the Cold War both Moscow 1980 and Los Angeles 1984 were used by the USSR and USA to show their economic strength. Seoul in 1988 used the games to demonstrate South Korea's economic and political maturity. The Beijing Olympics in 2008 are seen by many as evidence of China's acceptance into the global community and a way for her to showcase her economic growth and acceptance of the West. For New York, the 2012 bid is a way of showing that the post-9/11 healing process has been completed and that the city is 'open for business' despite the terrorist attacks.
y business finance government sport olympics house believes hosting olympics good
The Olympic spotlight is not always a positive experience for the host nation and its government; for example, the run-up to the Beijing Games in 2008 was hijacked by the issue of Tibetan autonomy. The event designed ostensibly to celebrate China's coming-of-age was instead framed through their poor human rights record. German Chancellor Angela Merkel and French President Nicolas Sarkozy were sufficiently concerned to boycott the opening ceremony in protest, causing significant embarrassment for Olympic organisers.