This is an old article but worth reading. Essentially the chinese, especially wealthy chinese, are snobs, and likely to buy classic French wines before anything from the New World.
http://www.bbc.co.uk/news/business-21292824
Here is another one talking about the varying maturity of wine markets in Asia:
http://www.bbc.co.uk/news/business-17919948
As a wine market matures and consumption moves from the super rich to ordinary people like you and me, common sense will creep in, and the value for money offered by NW wines will lead people to drink more of it. But it may take a long time for that to happen.
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