The struggle for supremacy
The U.S. economy is in a funk and the euro zone is about to implode while the rest of the rich world is nursing a hang-over from the recent credit boom. All this is accelerating the shift of economic power eastwards. If China can avoid a blow-up in the next decade, it is likely to become the world’s biggest economy by 2018 or 2019, experts say. That should give a boost to the beer industry in the Asia-Pacific region, which at 658 million hl output in 2010 is already the world’s largest. Even if the rapid growth in beer consumption continues for a while, the big question for global brewers is: when will Asia’s low profits per hl finally catch up with its emerging markets’ peers?
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