Political volatility in two of the world’s superpowers—the United States and the United Kingdom—has made one thing clear to WPP founder and CEO Sir Martin Sorrell: China has an “incredible opportunity to exercise greater influence, politically, socially, and economically.”
Sorrell, whose advertising and marketing firm employs 200,000 people across 113 countries, delivered this assessment of the geopolitical landscape at a Fortune Global Forum dinner in London on Wednesday night.
The U.S., the U.K., and greater China make up WPP’s first-, second-, and third-biggest markets, respectively. And Sorrell expressed skepticism about the business climates of the first two.
The shock outcome of the U.K. election last week, in which the ruling Conservative Party lost its majority in Parliament, cast Britain into an even deeper state of uncertainty ahead of Brexit talks with the EU, which are scheduled to start Monday.
Labour picked up seats from Prime Minister Theresa May’s Conservative Party in the contest, but Sorrell is sour on how both parties view business. “When I look at the manifestos of both parties, [they’re] treating business more as regulated utilities—I know that’s a controversial thing to say—but I don’t see anything in either manifesto that filled me with a great amount of enthusiasm,” Sorrell told Alan Murray, chief…