China is a huge market for many major commodities, and perhaps most surprising, red Bordeaux. Traditionally, the Chinese are not big wine drinkers, so why the boom? Reasons include a burgeoning middle class with a developing taste for Bordeaux, the recent abolition of the 40% import tax making it cheaper to import wine and the Chinese business custom of giving face to important clients by providing extravagant gifts. This is welcome news for many French producers who’ve been struggling because of the global economic crisis, the decline of sales in the North America, intense competition from New World countries and the slowdown in consumption in France.
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