China To Drown Hard Landing Sorrows In Beer
Whether it is US companies' reporting or Chinese data confirming, times are getting tougher for the world's engine of growth. So, like every well-balanced western nation, instead of turning to meditation and exercise, beer appears the chosen method of stress-relief for the Chinese. As Bloomberg Briefs notes, three of the top six brands of beer in the world are Chinese with the great nation consuming 50 billion liters per year - more than double the US 24 billion. Do not worry though, USA is still #1 at 74 liters per capita per year relative to China's 37 liters. It would seem the start of their recession is perfect timing for them to make a run at increasing that average yearly intake. Already this year, Chinese domestic beer production is up 2% YoY and imports are up 100% - perhaps the only 'rising' data point the nation has seen; and maybe the next great anti-growth indicator.
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Source: Bloomberg Briefs