Wanda's driving too fast down boulevard of broken dreams

Hong Kong

WHEN it comes to his attempts to dominate Hollywood, Chinese billionaire Wang Jianlin has been quite vocal about US protectionism. Perhaps he should direct some of that energy elsewhere.

Last week, as he was making waves at Davos, his domestic rivals were getting cozy with a studio he'd previously set his sights on. Shanghai Film Group and Huahua Media struck a deal to throw Viacom's Paramount Pictures a much-needed lifeline.

The tie-up doesn't involve a sale, but it does solve a long-term funding problem for Paramount, plus gives it increased access to viewers in China. Wang's D…