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WPP CEO Says China, Web Will Save Advertising

China and online advertisers will be the saviors of the advertising industry, according to Sir Martin Sorrell, CEO of advertising giant WPP.

He discussed the state of worldwide advertising and its future in terms of both traditional venues and the growing digital media environment with CNBC’s Dennis Kneale.

"Just like we talk about China and India being the biggest source of growth in a world context in the future -- and now -- so digital is the biggest source of growth in the context of the U.S."

"Consumers spent 20 to 25 percent online or on mobile phones, on their BlackBerries, whatever it is. Why is it our clients only spend 8 percent? And the reason is, it's very difficult for them to change."

"China, this year, we will grow by $100 million organically, from 500 million to 600 million. That is bigger than our biggest competitor in China."

- Sir Martin Sorrell, WPP CEO