By David Murphy
WPP CEO Sir Martin Sorrell was on stage at Ad Week Europe this morning, being questioned by Bloomberg TV anchor and editor at large, Francine Lacqua. He’s always an entertaining and forthright interviewee, though he had little to say on mobile and digital disruption this morning that we hadn’t heard before.
When asked who the big spenders of tomorrow would be, he repeated his warning to the world’s business leaders, reported here last year, that they should watch out for China.
“I don’t know what the next big thing is, but I think we underestimate the power of Chinese technology,” he said, citing the handset maker Xaoimi and eCommerce site Alibaba as just two examples of powerful Chinese companies that seem to have emerged from nowhere. Alibaba, he pointed out, is currently the 16th largest company in the world.
When asked what he is doing to cope with the increasing importance of China as a technical superpower, he told the audience that WPP has established what is now its third largest business in China, generating $1.5bn in revenues last year and employing 16,000 people, with two Chinese nationals and a leading Chinese Venture Capitalist on the board.
Geography, Sorrell said, is one of the …read more
Source:: Mobile App News