Beijing/Hong Kong —
Nearly three decades ago, Starbucks opened its first outlet in China with much fanfare, involving a troupe performing a traditional “golden lion” dance and eager customers trying cappuccinos made with steaming espresso machines.
The entry of the American brand helped spur the rise of a thriving coffee culture among the burgeoning middle class of a country that traditionally drank tea, and Starbucks soon became a symbol of Western influence in a more affluent China.
At one point the Seattle-founded coffee giant was opening a new store every 15 hours in China as it rode the wave of the country’s economic boom –– making the market a cornerstone of the US company’s global strategy.
But that’s all about to change, with Starbucks announcing on Monday that it will

CNN Business

Raw Story
Reuters US Business
@MSNBC Video
RadarOnline
Axios
Washington Examiner
The Babylon Bee