THE summit season is not over. In Copenhagen today the heads of state of Brazil, Japan, Spain and the United States will be present to assist their countries' final bids to win the right to stage the 2016 summer Olympics.

Their presence is not political in the usual sense of the word but the fact that these four cities and countries all believe the world economy will have recovered sufficiently by 2016 for them to want the costly privilege of putting on the Olympics should send an encouraging message to the G20 group. The International Olympics Committee has done all its usual homework to check the ability of these four cities to carry the considerable financial, infrastructural and sporting competence to take on the task. The question now is whether their final 45-minute presentations can offer something extra, as London's did four years ago in Singapore with the help of prime minister Tony Blair. King Juan Carlos, President Obama and President Lula da Silva of Brazil will be on hand to back their bids - an unprecedented array of prestige persuasion.

Logically, Rio de Janeiro should get the vote; South America has never staged the Olympics and the mood of the moment is that Brazil is emerging as a major power. America, Japan and Spain have all staged the summer Olympics in relatively recent times and this inevitably detracts from the bids of Chicago, Madrid and Tokyo. But it will be a close run race.