At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the pressing issue of escalating geopolitical tensions and their impact on global markets. Ngai emphasized that these tensions have significantly increased global uncertainty, affecting economies and businesses worldwide.
He predicted a substantial restructuring of the global trade landscape, driven by the implementation of new trade barriers and tariffs. \"Businesses must prepare for a shift in how global trade operates,\" Ngai stated. \"The traditional models are evolving, and adaptability will be key to navigating these changes.\"
Despite the challenges posed by geopolitical strains, Ngai highlighted China's robust economic growth and its expanding influence on the global stage. He noted that China's economy continues to show resilience, offering opportunities for investors and businesses willing to engage with the Chinese market.
\"China's growth story is far from over,\" Ngai remarked. \"The nation's increasing influence is shaping global trends, and understanding this dynamic is essential for businesses aiming to thrive in this new era.\"
Ngai called on global businesses to embrace adaptability and resilience in the face of uncertainty. He urged companies to reassess their strategies, consider diversification, and remain vigilant to geopolitical developments that could affect their operations.
The discussions at Davos 2025 underscored the need for international collaboration and strategic planning to navigate the complexities of the current global economic environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
