At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders, emphasizing the heightened uncertainty in the global economy due to ongoing geopolitical tensions. Ngai highlighted that these tensions have led to significant volatility, necessitating businesses to adapt swiftly to changing circumstances.
\"We are witnessing a restructuring of the global trade landscape,\" Ngai stated. \"Trade barriers and tariffs are reshaping supply chains and compelling companies to reevaluate their strategies.\"
Despite the challenges posed by this environment, Ngai expressed optimism about China's role in the global economy. He underscored China's robust economic growth and its increasing influence on the world stage.
\"China continues to be a driving force in global economic development,\" Ngai remarked. \"Businesses operating in or with China must be prepared for both the opportunities and the complexities that come with this influence.\"
Ngai urged businesses to embrace flexibility and resilience, suggesting that those prepared for volatility are more likely to thrive. He also called for increased collaboration and dialogue among global leaders to navigate the uncertainties ahead.
\"Our interconnected world demands that we find common ground,\" he concluded. \"By working together, we can foster stability and promote shared prosperity.\"
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
