Not all the news has to be depressing. After finally receiving approval from the Chinese government, Disney broke ground today on a theme park and resort in Shanghai, China, which is expected to be the largest foreign investment of all time in mainland China, in total reaching almost $4 billion! Disney is incredibly excited to expand its global brand, but more importantly to enter the Chinese market, the largest and fastest-growing market in the world. Disney also hopes this will allow them to further penetrate the Chinese market, bringing all the joys of Disney to China, including film distribution, merchandising and a 24-hour cable network. Once Disney Shanghai opens in 5 years, it will be "both authentically Disney and distinctly Chinese," including a Magic Kingdom-style theme park (with the largest version of the famed Cinderella castle), two hotels, large entertainment, dining and retail venues, as well as a lake and recreational areas. The mayor of Shanghai praises this investment, claiming it will raise Shanghai's international profile and increase tourism. Disney Shanghai obviously serves as an economic milestone for foreign investment in China, but also a cultural milestone, as the country further embraces outside influence. Perhaps little by little China will become "the happiest place on earth." :)
http://www.cnn.com/2011/BUSINESS/04/08/shanghai.disney.groundbreaking/index.html
Mark Zajac
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