Read these articles on the postponement of the 2020 Japan Summer Olympics due to coronavirus.

https://olympics.com/ioc/all-information-about-the-olympic-games-tokyo-2020-and-covid-19

and

https://www.cbsnews.com/news/olympics-2020-closing-ceremony-tokyo-covid-pandemic/

Please explain in detail.

What factors were considered when making these decisions?

Which, if any, of these factors are beyond the control of Olympics organizers?

Why is timing of the decision to cancel/postpone important?

What are the implications for Japan's economy from the Olympics being postponed?