How China is devastating Australia's billion-dollar wine industry

  • 📰 CTVNews
  • ⏱ Reading Time:
  • 48 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 23%
  • Publisher: 99%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

In November, Beijing announced crippling tariffs on Australian wine as part of an 'anti-dumping investigation' into whether those wines were being sold too cheaply in China.

Bruce Tyrrell, managing director of Tyrrell's Wines in New South Wales, put it this way:

China's Foreign Ministry spokesman Zhao Lijian said in November, after the tariffs were announced, that the Chinese government believed a sound and stable relationship with Australia was "in the interests of both countries." Whoever is to blame, Australian vineyards are suffering. Even winemakers with no footprint in the China market are now facing a likely drop in domestic wine prices, as vintners flood the Australian market with product they can't sell overseas.

Some vintners told CNN Business that they are hopeful that India, with its rapidly growing economy and middle class, might be an option, while others said they are looking to develop more obscure markets like Kazakhstan and Uzbekistan. "These things take the ability to do international travel and time and money," he said. "It isn't just a matter of, 'Oh, we have all this stock, let's ship it to America or Europe.'"

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 1. in CA
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Liberals in Canada cheer.

I’m not going to read the article because is garbage but I’m guessing they’re complimenting China’s destruction of Australia

Time for Western countries to end all trade and any dealings with China.

Globalization baby, ask the Repubes and Cons, how the West has been sending all the jobs to China and other Asian Countries. And by the way they've always been Communist.

China is devastating everything. Trudeau and Biden don’t seem to mind it one bit.

Canada is next

Canada Canada Latest News, Canada Canada Headlines