Hong Kong Gets Magic Kingdom.Walt Disney Noun 1. Walt Disney - United States film maker who pioneered animated cartoons and created such characters as Mickey Mouse and Donald Duck; founded Disneyland (1901-1966) Disney, Walter Elias Disney Co. and the Hong Kong Hong Kong (hŏng kŏng), Mandarin Xianggang, special administrative region of China, formerly a British crown colony (2005 est. pop. 6,899,000), land area 422 sq mi (1,092 sq km), adjacent to Guangdong prov. government announced a long-awaited deal to build a Disney theme park in the bustling financial hub, an agreement that would give Asia its second Magic Kingdom and grant Disney access to millions of Chinese customers. Negotiators hammered out a $2.9 billion deal that would make Disney and the Hong Kong government joint partners in developing a 311.2-acre entertainment complex on Lantau Island Lantau Island, also Lantao, based on the old local name of Lantau Peak (Traditional Chinese: 爛頭; lit. Ragged Head), is the largest island in Hong Kong, located at the mouth of the Pearl River. -- a lush, sparsely populated pop·u·late tr.v. pop·u·lat·ed, pop·u·lat·ing, pop·u·lates 1. To supply with inhabitants, as by colonization; people. 2. area west of Hong Kong proper. The park would open in 2005. Plans call for the Hong Kong government to provide about $2.6 billion in government loans, land and infrastructure improvements in exchange for a 57 percent stake in the project. Disney would invest $318 million to build the complex, which would include a Disneyland, two or three resort hotels, shops and restaurants. About $300 million in commercial loans would make up the difference. Battered by a lingering recession and the Asian financial crisis, many Hong Kong residents view the proposed Magic Kingdom as a magic bullet (jargon) magic bullet - (Or "silver bullet" from vampire legends) A term widely used in software engineering for a supposed quick, simple cure for some problem. E.g. "There's no silver bullet for this problem". to get the economy going again. |
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