There is always a delay at Internet; say ~100ms between coasts in US. In addition, China, the loss rate is much higher than US. It's rare to see >0.5% in US but it's norm to see >1%.
The next impact of delay + loss is: your bigger pipe (bandwidth) may not be fully utilized by the limitation of underlying protocol (especially for TCP). It has been one of the big technical challenge for IPTV players (so they all have to develop their own video-players to work around).
