Posted by Laura Fitch on November 12, 2009 05:25 PM
Walt Disney Co. execs hope to cast a spell over China, but they're going to have to use more than just fairy dust to do it. The Chinese government recently cleared the American cultural giant to build a theme park in China's richest city, the first foray for Disney onto the Chinese mainland.
Though getting permission to build in Shanghai is a step forward, it doesn't guarantee a happy ending for Mickey and crew. Shanghai Daily reports that Disney's biggest competitiors aren't exactly worried about potential competition:
"We are (sic) born here and grew up here, and we know what the Chinese people want," said Ren Kelei, president of Happy Valley, the newest and biggest of Shanghai's theme parks.Continue reading...