At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the pressing issue of global uncertainty driven by escalating geopolitical tensions. Speaking to an audience of global leaders and industry experts, Ngai emphasized that businesses worldwide are bracing for volatility as trade barriers and tariffs reshape the international trade landscape.
\"Geopolitical dynamics are introducing levels of uncertainty we haven't seen in decades,\" Ngai stated. He pointed out that the increasing friction between major economies is leading to a reconfiguration of global supply chains and trade partnerships. This shift necessitates that businesses adapt quickly to new market realities.
Despite these challenges, Ngai underscored the resilience and robust growth of the Chinese mainland's economy. He highlighted China's expanding influence on the global stage, noting that it continues to offer significant opportunities for international investors and businesses. \"China remains a pivotal player in global economic development,\" Ngai said. \"Its commitment to innovation and expansion provides a beacon of stability amid global turbulence.\"
Ngai's insights at Davos reflect a broader understanding among business leaders that agility and preparedness are key in navigating the evolving trade environment. Companies are encouraged to stay informed and adaptable to maintain competitiveness in this shifting landscape.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
