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The Olympic Games are considered the world's foremost sports competition with thousands of athletes from more than 200 nations participating.  The Olympic Games are normally held every four years, alternating between the Summer and Winter Olympics every two years in the four-year period.  
Note: The ceremony happens on “the beginning of spring” of the Chinese lunar calendar - a few days after the Chinese new year, also called the Spring Festival.  Unfortunately, the NBC commentators didn’t get that cultural meaning.

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