Hasta La Creative!

China’s roller coaster ride on the stock market, with shares down about 30% in less than a month after a rapid rise, is raising serious concerns about growth in the world’s second-biggest economy, and whether consumer spending will play a big a role as widely hoped. Ad Age asked China experts for their take on China and its prospects, starting with self-described “unabashed China bull” Martin Sorrell.

“We think it’s been apparent for some time that Chinese stock markets have been overvaluede.g. stories of farmers investing in the stock markets, rather than farming; the pricing of some deals in our industry in China; and the privatization of Chinese U.S. listings with the aim of refloating in China to arbitrage the high Chinese valuations,” the WPP chief executive said.

“Our Chinese business continues to grow and is our third largest, forecast to cross $1.6 billion of revenue this year and growing about 4% like-for-like. It is, however, quite volatile and multinational clients are finding it more difficult, locals perhaps less so. We remain unabashed Chinese bulls, and given the opportunity would double-up given the long-term opportunities.”

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