If what they were doing is a commodity product, I would agree - but it's not - it's much more upmarket, in which case being in the USA is essential to their long-term success. Disney cruises are 3x their competitors cost-wise, for example (as I learned the painful way recently).

Shanghai and Hong Kong Disney are also being held hostage to the Chinese communists and their covid and anti-western policies. The contract with the oriental land company is very limiting on Disney.

I suspect we would see expansion in Brazil before anything else at this point