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Some observers say that wines from Argentina, Chile and South Africa-where First World capital and know-how meet affordable land and low labor costs-represent the future. They say that the luxury market (never mind the product) isn't returning soon. Some gloomsayers declare it fatally wounded, while others predict a slow, faltering recovery.
For the full article, check out the new issue of Wine Spectator, on newsstands November 24, 2009.
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