The Olympics have a competitive balance for all the continents, and regional areas of the world in all their sports, as much as they can to keep it optimized for competition. FIFA and the IOC agree on that. It makes no sense that UEFA and AFC (and CAF) would get all 4 of the additional 4 slots, when expanding from 12 to 16 teams.
No cold war, but there could be a hot war if the Western Hemisphere gets screwed. In fact, the Western Hemisphere delegation has already put in a request to get more bids for the World Cup as well.