Disney Double Parks

City rivalries, like those between siblings, intensify with proximity. Consider the uproar in Hong Kong last week when it was revealed that the Disney Co. had tentatively agreed to build a theme park in Shanghai—Hong Kong's commercial bete noire. Hong Kong three years ago partnered with the U.S.-based entertainment conglomerate to build the first—and some believed at the time, the only—Chinese Disneyland. But that was then. Now, says Hong Kong legislator Emily Lau, "it seems Disney doesn't give two hoots about Hong Kong."

The flap isn't solely about loss of face. It's about the loss of tourists' cash....

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