The Wall Street Journal reports that China’s tighter official stance on alcohol, including restrictions on drinking at official events, is becoming another serious drag on the global wine trade. The paper says imported wine demand has weakened sharply, Treasury Wine Estates is sitting on about $150 million of unsold stock in Chinese warehouses, and the knock-on effects are feeding oversupply in places such as Bordeaux and Australia, which makes this less a single market story than a broader warning for producers already coping with weak demand.