What a stiff drink says about China’s economy
Baijiu, China’s favourite firewater, is losing its bite. This year retail prices have been hovering around the benchmark of 1,499 yuan ($212) a bottle, as set by Kweichow Moutai, a state-owned giant. Or they were, until rogue vendors recently began to ignore the company’s pricing strategy, selling the booze at a 100-yuan discount in the hope of attracting more customers.
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