Ben Blanchard, John Ruwitch and Adam Jourdan follow up on the news of a Communist party ban on golf, setting us up for what may be the first of many obituaries for China's forbidden game of golf. The timing gets more intriguing as the PGA Tour comes to Shanghai November 2-8.
Writing for Reuters:
The new rules are a blow to China's nascent market for golf, which is often seen as providing an opportunity for officials to make shady deals and an extravagance for government employees who should be serving the people.
"In other countries golf is more about the sport, here it's about the social interaction. If a company boss can't play with a government official, there's little point in him spending his money," said the owner of a golf equipment store in Shanghai who only gave his surname as Huang.
He noted his store's sales dropped 30-40 percent last year. "This year, things are even more dismal. With our regular revenues we can no longer make ends meet."