Starbucks faces new threat from China rival set to enter US market

Whether you've purchased a cup of coffee there or passed by it on the way to work, almost every person on this planet has heard of Starbucks. This company is one of the world's largest coffeehouse chains, and with over 40,000 locations in 80 countries worldwide, it's hard to miss it.      

Starbucks has been around since 1971, when it opened its first coffee shop in Seattle's historic Pike Place Market. Since then, it has become a multi-billion-dollar company due to its high-quality coffee and iconic menu.