Spare me the nationalistic glitz; these global Games should be more global

And the winner is... In 2008, the Beijing Olympics were China's splashy coming-out party, a dazzling, expensively choreographed event that may never be bettered. However, the long-term outcome is uncertain: is today's China a more international, more mature global player? Or does a dangerous chauvinism rule?

Britain has paid a hefty GBP11billion (HK$132 billion) price tag for bringing the Olympics to London, where the Games will open as this newspaper goes to press today.

Controversies are raging about the costs and benefits of hosting the Games: the hefty bill for taxpayers versus the dreams of an economic boost; the cost of the new stadiums and facilities versus the rejuvenation of previously depressed East London; the high-living of Olympics Inc and the disruption to ordinary Londoners versus a new enthusiasm for sport.

But the most important test is whether the Games give Britain a better appreciation of the world and the world a better appreciation of Britain. On this - as in Beijing - it is difficult to be sure of success.

It is hard to imagine that the London Games will turn a profit given the soaring costs. When London bid for the Games, the budget was GBP2.4billion. The official cost reached GBP9.3 billion in 2007 and the British House of Commons' public accounts committee disclosed recently that the bill was 'heading for around GBP11 billion'. Sky Sports estimated that the true cost, if all items were properly budgeted, would be GBP24 billion.

The athletes' village cost GBP1.1billion, but has already been sold, with taxpayers footing a GBP275million loss. Jeremy Hunt - the gaffe-prone culture secretary also responsible for the Games' private security fiasco - called the sale of the village 'a fantastic deal that will give taxpayers a great return and shows how we are securing a great legacy from London's games'.

Like Soviet Moscow, where major roads were reserved for government officials' Zil limousines, London is experiencing its own 'Zil moment'. Some 48 kilometres of special lanes have been set aside for official Olympic bigwigs, while most Londoners fume in traffic.