Duncan Clark Quotations

The move was priced into Chinese Internet stocks and there has been some appreciation in anticipation of a revaluation. If anything, the stocks may go down slightly right after the news because the revaluation was small.

China Mobile is actually 31 provinces, and each province has its autonomy and capital expenditures. Often they'll promote their own local brands at the expense of national brands they should be promoting.

China Mobile could change the terms of the deal,

China is a high-maintenance market. It is highly regulated, highly sensitive and difficult to manage from 15 hours' time difference away.

China has been a textbook case of how the government did just enough intervention to increase penetration, but the reality is that it isn't going to work for all countries in the same way. Culture always plays a role and you can't necessarily take what worked in one market and automatically make it work somewhere else.

There has been an expectation of a revaluation, and I'm not sure what the reaction will be to such a limited move,

You have to adapt to the way you address these undeveloped markets, but there's no problem with penetration.

The missionaries are losing out to the merchants. While the bigger media groups are not allowed to run independent print media or television channels, the Internet companies are already here. You can participate in China, but there are strings attached.

You see a spectrum in China between more sophisticated, coastal cities, where people are more responsive to more emotional stuff, and the inland areas - the sort of second-, third- and fourth-tier cities and towns - which are more price-driven.

Right now, they give about 85 percent of value-added content revenues to the portals. They could try to change that deal.