The market potential of a Shanghai Disneyland could be enormous. Few Chinese born after 1980 grew up without viewing cartoons of the Walt Disney Co. on television and in books. Asked to name her most memorable characters, 26-year-old Tan Wenwen, who works two hours train ride from Shanghai, listed Donald Duck, Tom, Jerry, Simba, Nemo and Snow White without thinking. She told Beijing Review, "I will definitely visit Shanghai Disneyland. It is so famous and I am very curious." She said many of her colleagues hold similar opinions.

However, not all Chinese economists are confident of the Disneyland's ability to boost the cooling Chinese economy. Renowned economist Yi Xianrong told Securities Daily that the Disneyland could not stimulate Shanghai's economy in the short term and its boost to local GDP, if it could be realized at all, would take many years. He explained that a review of the Hong Kong Disneyland showed that it exerted very little impact on the local economy.

On the forums of China's major news portal Sina.com, many netizens voiced their concern about the profitability of the huge project. One netizen said, "Even if the tickets were sold at 200 yuan ($29.4), it would take over 100 million tourists to recover the initial investment, without considering taxation and various maintenance fees. As for expanding domestic demand, spending such a huge amount of money on one project is no better than giving the money to the public."

Other online supporters of the project praised it for its potential to boost the local services sector, its environment-friendliness and its ability to create jobs.

Netizens also disagree on whether China should further embrace the Disney culture. People opposing the park plan said that China should develop theme parks based on Chinese stories, such as Monkey King, and create its own brands. "There is no entertainment culture that can live forever. We don't watch Donald Duck and Mickey Mouse any longer. So why should we spend so much money on a culture that should be preserved in museums," one netizen said.

Yet supporters said building a Disneyland shows China's openness to the world and will reestablish Shanghai as a true cosmopolitan city. "Only through reform and opening up did Shanghai finally get the opportunity to build a Disneyland. This is the Shanghai we want. Shanghai lost its crown as the 'Pearl of the Orient' to Hong Kong and its crown as 'Asia's first cosmopolitan city' to Tokyo. Now is the time to get our crowns back. We are building the best Disneyland in the world," said one netizen.

Timeline of Shanghai's Disneyland Plan

November 11, 2003 Then Shanghai Vice Mayor Jiang Sixian said in an interview with the Taiwanese media that after the Hong Kong Disneyland was completed in 2005, Shanghai planned to build China's second Disneyland Park by 2010. Shanghai's suburban Chongming County and Pudong District competed to host the future park, both including it in their development plans.

March 2006 Shanghai Mayor Han Zheng for the first time confirmed the preparation for a Disneyland's construction.

April 2006 A theme park under the name of "Buenaland" appeared on the plan map of Shanghai's Chuansha County, which will occupy 500 hectares of land in the county's southwestern part.

July 2007 Chen Qiwei, spokesman of the Shanghai Municipal Government said at a regular press conference that Shanghai's plan to build a Disneyland had not been approved by the Central Government.

November 2008 A forum organized by the Shanghai Municipal Government announced that Shanghai would give priority to pursuing the ratification of projects that had been applied to the Central Government, including the plan to build the Shanghai Disneyland.

January 8, 2009 The Walt Disney Co. headquarters sent senior managers to Shanghai to discuss cooperation details. The deal was eventually signed after major compromises by both sides.

Source: Eeo.com.cn