Starbucks sells more coffee in China than in the USA - analyst

Sales figures show that $5 Starbucks coffee seems to have replaced China's love of tea.

With 1.3 new Starbucks stores opening in China every day, by 2021, there will be over 5000 Starbucks outlets across the country.

On the other hand, Europe showed a 1% drop in Starbucks sales and the USA showed just a 3% increase in sales.

South Africa currently has only three Starbucks outlets.

Speaking to Kieno Kammies on Cape Talk's BRICS report, Dr Martyn Davis, MD Emerging Markets and Africa, Deloitte Frontier Advisory, explains the basic reasons for the boom in the Chinese economy over the last three decades.

Much of China's accelerated high-growth phenomenon of the last 30 years has been because of a reduction of a centrally-planned economy shifting towards a market-oriented economy, he says.

40 years ago everyone was working for government or state enterprises; now over 80% of workers in China are working for the private sector. In South Africa, one in three workers work for government directly or indirectly - in China, 80% of workers are in the private sector.

Dr Martyn Davis, MD Emerging Markets and Africa, Deloitte Frontier Advisory

Take a listen to today's Brics report:

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