Starbucks is slowly building up its presence in China.
. "Per capita demand for coffee in China will grow further from 12 cups per year to 14 cups by 2025."
Dong credited Starbucks' success to its access to prime locations and "friends in high places" compared to competitors. Other big coffee players in China now include Beijing-based Luckin Coffee . "It's much more restrictive towards foreign firms ... so the calculus has completely changed in terms of what the long-term trajectory can be," Miller said, pointing to geopolitical risk factors, such as worsening US-China tensions.Starbucks customers consume coffee at the world's largest Starbucks Reserve Roastery in Shanghai, China, August 28, 2019. Investors have keyed in on Starbucks' China business, though some are cautious about China's economic recovery.
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