Starbucks once seemed unstoppable in China. Its US owner is now giving up control

Nearly three decades ago, Starbucks opened its first outlet in China with much fanfare. But its American owners are now relinquishing control as it faces a myriad of challenges in an increasingly competitive beverage market.

​ Nearly three decades ago, Starbucks opened its first outlet in China with much fanfare. But its American owners are now relinquishing control as it faces a myriad of challenges in an increasingly competitive beverage market. Read More Breaking News, Latest News and Videos | CNN