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California braces for falling yuan's ripples

California braces for falling yuan's ripples

At the Beverly Center on Wednesday, a clutch of Chinese tourists spilled out of a bus and into the upscale mall, ready to snap up Gucci purses and Nike sneakers. The tour bus is just one of about 70 the shopping center gets a month, dropping off visitors from China primed to splurge — but with currency that is suddenly worth less because of the devaluation of the Chinese yuan. These tourists are spending now, but anxiety is high throughout the Southland about whether tourists, home buyers and investors from China will lose interest if the currency keeps falling. SIGN UP for the free California Inc. business newsletter >> Chinese tourists "are very, very...

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