At the 2025 World Economic Forum in Davos, Switzerland, Joe Ngai, chairman of McKinsey Greater China, addressed a gathering of global leaders and business professionals to discuss the evolving landscape of international trade. Ngai highlighted how escalating geopolitical tensions have significantly heightened global uncertainty.
\"Geopolitical tensions are reshaping the world's economic fabric,\" Ngai stated. \"Businesses must prepare for increased volatility and unpredictability in the global market.\"
He predicted a substantial restructuring of the global trade landscape, driven by the rise of trade barriers and tariffs. According to Ngai, these developments are prompting businesses to reassess their strategies and adapt to a more fragmented economic environment.
Despite these challenges, Ngai emphasized the resilience of China's economy. He underscored China's robust economic growth and its expanding influence on the global stage. \"China continues to be a pivotal player in the global economy,\" he remarked. \"Its ability to navigate these uncertainties is a testament to its strength and adaptability.\"
Ngai's insights shed light on the need for businesses to remain agile and forward-thinking in the face of global economic shifts. His remarks resonated with industry leaders, investors, and policymakers seeking to understand and navigate the complexities of the current geopolitical climate.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
