Governor Felix Camacho presented the many potential economic benefits of developing relationships with China to members of the Guam Visitors Bureau today. Aside from the obvious boost to the tourism industry that a Guam-only visa waiver program would provide, the island's chief executive spoke about other business opportunities that could arise out of partnering with Chinese companies that will soon be looking to invest more money in the United States.

"I believe that China has in reserve of foreign currency about a trillion dollars," Camacho states, "so you talk about a trade imbalance not just with the U.S., but with the rest of the world. So here are opportunities for investment into Guam from that country." China is the largest and fastest growing potential market for tourism in the world.

Currently 38 million Chinese tourists travel overseas annually that number is expected to increase to 50 million by the year 2010.