March 7, 2014
In Bordeaux, they are drowning in renminbi. Burgundy is more expensive than ever, and it is said that Chinese millionaires have made this region their next target. Champagne sales may lack pop, but the luxury cuvées seem to be gaining strength despite the dull European economy.
The French should be very happy with their vinous state of affairs, no? Well, no. While the price for prestigious wines has soared in recent years, wines in the middle and lower tier have not done well.
The European economy lags. The French (and other Europeans) drink less wine than ever, and this downward trend shows no bottom. Wines from second world ...[More]