British advertising tycoon warns: Ignoring China's unwise move is "unimaginable consequences"
2021-09-15: [Original Article Link].
U.S. CNBC website article on September 13, original title: "Ignore China's consequences are unimaginable", Advertising tycoon Martin Sorrell talks about the Chinese government's rectification of the technology industry, British businessman Martin Sorrell warned, while there are challenges in China, it is not wise for companies to ignore China altogether. "This is the world's second largest economy," he said. "It will become the world's largest economy in a few years, not based on per capita levels, but on absolute values, and the consequences of ignoring it are unimaginable."
Both for the digital advertising and marketing firm founded by Sorrell in 2018 and for other companies seeking to expand their business in China, recent actions have created "significant problems". Sorrell said his company would continue to do its best to expand its presence in China, but "needs to be considered very carefully" on how to proceed.
Sorrell said: "Earlier this year, we acquired another agent in Shanghai, which doubled our business in China. We intend to continue to expand our business, but I think that due to the cracks in the US-China relationship, our layout in China may eventually be very different from what we are now." (Author Sam Said, translated by Wang Huicong)
Note: This is auto-translated version of an article meant for Chinese audience. A mature and nuanced reading is suggested.