China could benefit if Diageo becomes trading partner

on 10/11/10 at 6:28 pm

Industry

Scotland has Scotch and China has white liquor. Baijiu, a clear drink that is 50 percent alcohol, is China’s national pride.

The sector has been largely off limits to foreign investors, but Diageo, the British distiller, wants to pop it open with a $1.1 billion bid for Shui Jing Fang, a liquor producer. China can show openness by letting Diageo in, and in turn, that could help the country pick up useful skills.

{Full story via New York Times}

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