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By Philippe Legrain 1 COMMENT

Amid all the worries about cheap Chinese exports undercutting Western products and costing Americans and Europeans their jobs, people often forget that China’s explosive growth also creates huge new opportunities for Westerners.

A decade ago, Chinese tourists were rare birds. Now, they are the world’s fourth-biggest spenders. They spent $43.7 billion last year, 21% more than the previous year – more than the French. German tourists are the third-biggest spenders, Britons second and Americans first.

As Chinese tourists become as ubiquitous as the Japanese became in the 1980s, it will boost Western business and provide lots of new jobs.

Hat tip: ViewFlow.

Posted 30 Apr 2010 in Blog, China, Global Economy

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