The problem is that Americans are deep in debt. Why should they bother if visiting France has become a bit cheaper? They should be saving money to pay off their debt. But, Americans are in Paris for a good time again. They stay at nice hotels, drink good wine, and eat expensive French food.
On the other hand, Chinese tourists go in groups, stay in cheap hotels, eat instant noodles and then spend ten thousand euros on an LV bag. I disagree with the choice. LV bags are sold almost exclusively to the Chinese and Japanese, believing it is a prestigious luxury brand. In fact, the product has been designed to profit from Asia's misunderstanding of western luxury.
My view on LV bags is beside the point. The main point is that Chinese leave with something that will last, while Americans put everything in the stomach. This fundamental difference in behavior won't change with a yuan revaluation. If the yuan goes up, it will benefit LV sales, not American exports.
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