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Officials described the China issue as one of the most challenging elements of the G7 gathering.
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“They are raising rates like there’s no tomorrow,” Ramlow said. “And that’s just one client. It‘s not unusual across the board.”
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Google has been the market leader in online advertising for well over a decade and is expected to command nearly a 29% share of digital ad spending globally in 2021, according to eMarketer. Number-two Facebook is expected to capture less than 24%, while Alibaba is projected to be a distant third, with less than 9%.