VIEWPOINT: Bad debt reality to temper China rush
It's not surprising that agency groups have become more gung-ho about China even though most foreign corporations have been burnt by their exposure. Not only will it emerge as the world's biggest advertising market in the coming years, but it's one of the few economies with a runaway growth rate - up seven per cent last year. But amid the euphoria over future earnings, agencies should temper their exuberance with a dose or reality. WTO membership will not make China an easier place to do business overnight. Which is why the issue of non-paying clients - a serious one by all accounts - needs to be taken into account in the headlong rush to expand into China.
