In fact most are aware of the meteoric rise of Australian wine in the '90s in Europe and North America thanks to the strong marketing and communications of varietal labelling. Not to mention the major strides made in large-scale commercial production reducing costs whilst making clean fruit-driven wines. Australia became the number one country imported into the United Kingdom and in many cases second only to Italy or France. It's brands seemed indestructible.
Undoubtedly with a certain amount of glee the rest of the world has watched Australian wine fall from grace over the past five or more years. Numerous experts both within Australia and without have looked at figures and attempted to explain this incredible reversal of fortune. Having made some of the most important advances along with the United States in the '70s and '80s, Australia has seen other wine-producing countries in South America, Europe and Africa beat them at their own game in terms of value/quality and cost.