By 2019 Australian wine will be sold without tariff in China. The lift on the tax is part of a major free-trade agreement the countries intend to sign, ten years in the making.
For the last ten years, Australia and China have been discussing the possibility of lifting trade restrictions and easing tariffs. China is Australia’s primary trade partner, so it makes sense that they would move toward less restricted trade. Two trends are helping – that of China’s rising middle class learning about and enjoying western wine, and the fact that many western wines are moving into eastern markets.
Wine is a lucrative investment for those who are willing to take the time to do the research and have a keen sense of the market.
The Wall Street Journal recently focused on trading in wine, something many wine fans have not thought about. Most who love wine keep a few bottles on hand that they enjoy and save them for special occasions or have the ones they like to pair with dinners. But wine can be far more prosperous than a perfect pairing.
Americans like their wine. Enter any restaurant in the USA and you are likely to see diners enjoying a glass of red with dinner. Or lunch. Unfortunately for one diner, he got a little more than he bargained for when ordering a bottle for dinner with friends recently.
The diner was at a Bobby Flay restaurant in Atlantic City when he decided to order a bottle of wine with dinner. What we don’t know, are the exact details. The management and diner disagree on whether he requested “the best” or “a decent bottle” before being pointed to a wine with a cult-like following. The winery produces very limited batches at high prices.