As the middle class grows in this huge emerging market – which spent more money on beer sales than the U.S. did last year – so does the Asian nation’s thirst for finer brews.

But is it a bonus or a burden? The effect of the six increases made by the Federal Reserve since late 2015 is quite different for savers and borrowers.

New tariffs, higher costs and shifting tastes have forced the company to lower its projected earnings for 2018.