Earlier this year, in advance of Chinese Vice President Xi Jinping's visit to Los Angeles, U.S. Commerce Secretary John Bryson convened a luncheon meeting of 20 or so Southern California business leaders. He touted U.S. exports to China, which last year exceeded $100 billion for the first time. I pointed out to him that spending by Chinese visitors, which is counted as a U.S. export, was $5 billion in 2010. In other words, tourist dollars alone account for 5% of U.S. exports to China. ...
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