Jackie Chan is reportedly in final negotiations to join the remake of The Karate Kid that is to star Will Smith's son, Jaden. According to Variety, the new film will take place in an "exotic Asian location" and will take elements of the bullied kid plot of the original film. Pink Panther 2 and Agent Cody Banks director Harald Zwart will helm the film, while Will Smith will oversee production as a producer. Jaden Smith won excellent reviews for acting opposite his father in The Pursuit of Happyness and last appeared onscreen as the annoying kid in The Day The Earth Stood Still. Chan will take the role of Mr. Miyagi, which would seem pretty damn obvious. I actually watched a couple of the old films over Christmas, and they've aged like cheap beer, so maybe a remake isn't such a bad thing...