Bordeaux Vineyards Acquire Taste for Chinese Buyers

As China’s economy continues to grow, wealthy Chinese develop a new taste for luxury goods from around the world, including fine wines and French vineyards. Chinese investors increasingly make inquiries about purchasing centuries-old vineyards, and a few properties have been conveyed. Investors typically retain the local staff, though some critics express fear that newcomers won’t produce high-quality wine. The French, traditionally protective of their patrimoine, view a few Chinese buyers as a needed bailout for an industry struggling with declining alcohol consumption and exports, reports Alexandra Topping for the Guardian. Behind the warm welcome for Chinese investors is a quest for long-term survival and connections in the world’s largest market where incomes and alcohol consumption are on the rise. By training a few Chinese in the craft of winemaking and encouraging an appreciation for French wines, though, the French could develop both new fans and competitors. – YaleGlobal