Disney Theme Park for Shanghai Likely to Move Ahead Soon?

Say it isn't so!

While this is still a rumor, and being denied by the Walt Disney Company, reports coming out of China seem to indicate that this is for real.

A long-anticipated plan to build a Disney theme park in Shanghai is likely to move ahead soon, a state-run newspaper said Friday, though the company denied the report.

The Shanghai Securities Journal, citing an unnamed official, said the park is due to be built in the southern outskirts of Shanghai's Pudong district and has already received needed government approvals.

"In the past it was all speculation, this time it's for real!" the paper said.

Did they already learned from the mistakes they made in Hong Kong? If another Disney park opens near Shanghai, what will happen to Hong Kong Disneyland since they could be competing for the same pool of guests from China? Is Hong Kong going to be relegated simply as a "smallish" theme park serving mainly the rest of South East Asia?

I certainly hope that this is a false rumor. I don't see this as being a wise move at all if it is true.

Zz.