So I read somewhere that instead of making the sequel to Shanghai Knights the studios instead chose to do this film. Aint that some *beep* we get a Rush Hour 3 & no Shanghai 3. Cmon I love the Jackie Chan & Owen Wilson duo.
All we have to decide is what to do with the time that is given to us - Gandalf
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While Disney (Touchstone, Buena Vista etc.) produced both the Shanghai movies, 80 Days was produced by Walden Media and distributed by Disney.
So it might be possible the Disney was hoping for another Shanghai film, and maybe Jackie passed on the scripts presented (its happened before) But I think this was always an independent film that was picked up by Disney.