Next week, I head to China, not on a business trip but on vacation. But that doesn't mean I won't be scouting the place for Chinese wine potential. Recently, the owners of highly esteemed French wine producer Chateau Lafite Rothschild announced a 60-acre Chinese wine project in the northeastern Shandong Province. It's one of China's largest wine regions due to its proximity to the Bohai and Yellow Seas that provide a protective maritime climate.

The project has taken 15 years to get off the ground. It's not surprising — getting a tourist visa to China was painful enough (and expensive)… I can't imagine the hassles of navigating the bureaucracy and acquiring land by working with low-tech farmers. In this newly acquired soil, they'll plant mostly red grape varieties and we won't see the wines for another five or six years from now.