TY - JOUR
T1 - Asia's evolving role in global wine markets
AU - Anderson, Kym
AU - Wittwer, Glyn
N1 - Publisher Copyright:
© 2015 Elsevier Inc.
PY - 2015/9/1
Y1 - 2015/9/1
N2 - Over the past decade Hong Kong and China have become far more important to the world's wine markets, while Southeast Asia's imports of fine wine continue to grow steadily. This paper reviews recent developments in the light of comparative advantage theory before drawing on a model of global wine markets to project developments in Asia and elsewhere over the next five years under various economic growth, real exchange rate, and policy assumptions. It concludes that China is set to continue to be by far the most dominant player in Asia, and to change global markets for wines dramatically, just as it has been doing and will continue to do for so many other products.
AB - Over the past decade Hong Kong and China have become far more important to the world's wine markets, while Southeast Asia's imports of fine wine continue to grow steadily. This paper reviews recent developments in the light of comparative advantage theory before drawing on a model of global wine markets to project developments in Asia and elsewhere over the next five years under various economic growth, real exchange rate, and policy assumptions. It concludes that China is set to continue to be by far the most dominant player in Asia, and to change global markets for wines dramatically, just as it has been doing and will continue to do for so many other products.
KW - Changes in tastes
KW - Global grape and wine model projections
KW - Real exchange rate changes
KW - Wine comparative advantage
UR - http://www.scopus.com/inward/record.url?scp=84930666020&partnerID=8YFLogxK
U2 - 10.1016/j.chieco.2015.05.003
DO - 10.1016/j.chieco.2015.05.003
M3 - Article
SN - 1043-951X
VL - 35
SP - 1
EP - 14
JO - China Economic Review
JF - China Economic Review
ER -