Chief executive of advertising giant WPP, Sir Martin Sorrell says the West will continue to see a recession for the next three years.
In an interview with The Sunday Telegraph ahead of WPP’s interim results this week, Sir Martin said there was a dissonance between the plunging markets and the state of the world economy.
He said that although the situation was tough, it would be wrong to “under-estimate” the chances of America avoiding recession.
He also said that many multinationals were placing more and more investment in the emerging markets of the BRIC countries (Brazil, Russia, India and China) and the Next 11, including Vietnam and South Africa.Kamal Ahmed/The Guardian.
Image by Eirik Solheim.