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Fine Wines Languish in China Warehouses as Consumers Cool

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 $50 price tag. The fire sale was prompted by a huge oversupply of wine that had built up after a swarm of importers jumped at seemingly stellar growth from 2010. China wine consumption - which had been rising in double digits - dropped last year and is set to inch up just over 1...

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