Thursday, July 09, 2009

Micky Economics

Hong Kong's legislators would soon vote on whether to allow the government to convert its loans to the territory's Micky Land into equity according to this story.

What amazes me is the kind of argument that has been used to support the construction of Mickey Land in the first place and now its extension. The argument for building Micky Land, as least as it appears to me, is the following:

1. Build it (means Micky Land) first, and visitors would come!

Couple of years down the road, not that many visitors show up, the argument for extension relies on this:

2. Not that many people turn up because the park is too small. Build a larger park and visitors would come.

Amazing indeed. My sense is that if the whole enterprise is fully funded by the parent company of the local Micky Land, it would have been shut down a while ago. Amen.

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