Moneycontrol PRO
you are here: HomeNewsWorld

Delayed Tokyo Olympics likely to open in July 2021: Reports

The Tokyo event, postponed last week due to the coronavirus pandemic, will most likely have its opening ceremony in 2021 on July 23 and closing ceremony on Aug. 8, each a day earlier on the calendar than the original 2020 plan, said public broadcaster NHK on Sunday, citing unnamed sources.

March 29, 2020 / 08:23 AM IST

The International Olympic Committee (IOC) and Japanese organisers are in final stages of talks to set the opening date for the Tokyo Games in July next year, Japanese media said.

The Tokyo event, postponed last week due to the coronavirus pandemic, will most likely have its opening ceremony in 2021 on July 23 and closing ceremony on Aug. 8, each a day earlier on the calendar than the original 2020 plan, said public broadcaster NHK on Sunday, citing unnamed sources.

Prime Minister Shinzo Abe announced a delay of about one year on Tuesday after a call with IOC President Thomas Bach. It is the first postponement in the 124-year history of the modern Olympics, although several - including the 1940 Tokyo Games - were cancelled due to war.

The delay is a huge blow to Japan, which has invested $12 billion in the run-up, although financial markets initially cheered by the decision, as some investors had anticipated cancellation.

Economy Minister Yasutoshi Nishimura said on Sunday the government, now compiling economic-stimulus measures that Abe said will be the biggest ever, will take into account that the Olympic delay will push back several trillions of yen (tens of billions of dollars) of demand to next year.

COVID-19 Vaccine

Frequently Asked Questions

View more
How does a vaccine work?

A vaccine works by mimicking a natural infection. A vaccine not only induces immune response to protect people from any future COVID-19 infection, but also helps quickly build herd immunity to put an end to the pandemic. Herd immunity occurs when a sufficient percentage of a population becomes immune to a disease, making the spread of disease from person to person unlikely. The good news is that SARS-CoV-2 virus has been fairly stable, which increases the viability of a vaccine.

How many types of vaccines are there?

There are broadly four types of vaccine — one, a vaccine based on the whole virus (this could be either inactivated, or an attenuated [weakened] virus vaccine); two, a non-replicating viral vector vaccine that uses a benign virus as vector that carries the antigen of SARS-CoV; three, nucleic-acid vaccines that have genetic material like DNA and RNA of antigens like spike protein given to a person, helping human cells decode genetic material and produce the vaccine; and four, protein subunit vaccine wherein the recombinant proteins of SARS-COV-2 along with an adjuvant (booster) is given as a vaccine.

What does it take to develop a vaccine of this kind?

Vaccine development is a long, complex process. Unlike drugs that are given to people with a diseased, vaccines are given to healthy people and also vulnerable sections such as children, pregnant women and the elderly. So rigorous tests are compulsory. History says that the fastest time it took to develop a vaccine is five years, but it usually takes double or sometimes triple that time.

View more
Show

"If demand is being pushed back until next year, that means the same amount of demand will evaporate this year. We'll take this into account" in compiling the stimulus package, Nishimura told a television programme.

Reuters
first published: Mar 29, 2020 07:31 am