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Fine wines languish in China warehouses as consumers cool

A faltering economy and the crackdown on graft has wilted demand. Cheaper wines are now the choice

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Wine consumption in China, which had been rising in double digits, fell last year and is set to inch up by just over 1 per a year until 20202. The striking slowdown is a headache for a global wine industry, which had pinned hopes on continued fast growth in China.

Shanghai

THE crates of Chateau Brehat wine from Bordeaux had gathered dust for three years in a bonded warehouse on the outskirts of Shanghai before the owners cut their losses in July, slashing three-quarters off the US$50 price tag.

The fire sale was prompted by a huge oversupply