Monday, September 14, 2009

The Sage of Soho: No Green Shoots

Sir Martin Sorrell, often referred to as the Sage of [London's]Soho because of his prognostications on the advertising industry and the global economy, warned he has yet to see signs of a sustainable upturn and there is little hope of a return to booming growth any time soon.

"We don't see any green shoots," he said at the World Economic Forum in Dalian, China. Sir Martin, chief executive of WPP, the world's largest marketing company by revenue, forecast a V-shaped economic recovery in China but was more cautious about other parts of the world.

With near 25% annualized money growth in China, they should get one helluva a distorted boom.

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