Up from Down Under: L.A., Long Beach vie for cargo as Australian trade increases.

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Up from Down Under: L.A., Long Beach vie for cargo as Australian trade increases.

Call it a foolish economy.

Seven years ago, the Port of Los Angeles had a near monopoly on Southern California's ocean shipping trade with Australia. Then, as part of an agency-wide effort to cut operating costs, it closed its offices in Sydney and Wellington, New Zealand.

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