It should be given an opportunity to experience first hand the delights and rewards of crass consumerism. It should share in the spoils of commercial exploitation and greed. All those aging intolerant dictatorial communist officials will immediately perceive the error of their ways and invite MacDonald's to open several franchises. The West salivates at the thought of four billion microwave-less consumers. The U.S. especially thinks the Chinese can be convinced of the virtues of television and cell-phones, designer running shoes and Mickey Mouse ears.
Democracy can come later.
Historically, the Chinese have only invited Western companies in so they can absorb a new technology and then adapt the production methods for their own uses. They have never yet, allowed Western companies to set up their own branch plants and go into some serious production and sales. I don't know why many Western politicians and corporate leaders think things have changed. But the idea of Beijing hosting the Olympics while continuing to torture, imprison, and murder political dissidents is offensive in the extreme. The real message, if they are given the 2008 Olympics, is that we in the West are cold-hearted pragmatists who only pretend to care about human rights and justice.