Word: wine
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...time. This year’s included milk, a stuffed cow, a sombrero and a bottle of tequila. "It was bad milk," Isabel observed. "I liked the sombrero, but they wouldn’t let me keep it. I don’t know what they did with the wine. They wouldn’t let me take it home for Mommy and Daddy to drink...
...measures, implemented in February, 2008, had a marked effect: the value of wine imported into the city in 2008 surged by more than 80%. As wine shops, tasting seminars and cellars proliferated, more Hong Kong residents began taking an interest in drinking wine, not just investing in it. Said noted wine critic Jancis Robinson, editor of The Oxford Companion to Wine: "I have never before, in my 30-plus years in wine, witnessed a government so consciously targeting the fine-wine market." (Watch Joel Stein drink his way through wine from ten different U.S. states...
...There's a major commercial prize at stake. Hong Kong would like to become a wine center for Asia. With half the world's population, Asia accounts for only 7% of total wine consumption, so the market has plenty of room to grow. With zero tariffs and world-class logistics, Hong Kong hopes to become the main entrepot for Asia's wine trade and headquarters for the region's wine experts and merchants...
...biggest prize of all is China, which is already the largest wine importer in Asia. But at the moment, Hong Kong, which is a part of China but has its own system of government, is not in a strong position to become sommelier to its big brother. Authorities in Beijing subject wine imports, including those from Hong Kong, to a 48% tax, and allow Chinese customs officials to seize three bottles from every shipment for "testing" - a major barrier to importing high-priced wines where bottles can be worth thousands of dollars. A Hong Kong industry group is trying...
...Still, Hong Kong is determined to achieve recognition as Asia's wine hub. On Nov. 4-6, the city is hosting its second international wine and spirits fair. The fair is part of a broad effort to promote wine growth throughout the region, and even includes a tasting competition to determine what wines best complement traditional Asian dishes. Vintners and wine buffs, take note: with Asia rising, the flavors that please regional palettes could some day drive the decisions wineries make when growing, aging and blending their products. The West needs to face a sobering reality: Hong Kong...