At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the mounting challenges posed by geopolitical tensions. He emphasized that these tensions have injected significant uncertainty into the global economic landscape.
\"Geopolitical frictions have escalated, leading to volatility and unpredictability in international markets,\" Ngai stated. He predicted a profound restructuring of global trade dynamics, driven by the rise of trade barriers and tariffs.
Despite these headwinds, Ngai underscored China's robust economic growth and its increasing influence on the global stage. \"China continues to demonstrate strong economic resilience,\" he noted. \"Businesses must adapt to this shifting environment, recognizing both the challenges and opportunities that lie ahead.\"
Ngai urged companies to prepare for a future marked by volatility and to strategize accordingly. He highlighted the importance of agility and innovation in navigating the evolving trade landscape.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
