At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders, emphasizing the need for resilience amid escalating geopolitical tensions. Ngai highlighted that these tensions have significantly fueled global economic uncertainty, affecting trade dynamics and investment decisions worldwide.
\"We are witnessing a restructuring of the global trade landscape,\" Ngai stated, pointing to the increasing prevalence of trade barriers and tariffs. He noted that these shifts require businesses to adapt swiftly to maintain competitiveness in an unpredictable environment.
Despite the challenges, Ngai underscored China's robust economic growth and its rising influence on the global stage. \"China continues to be a driving force in the global economy,\" he affirmed. \"Its commitment to innovation and development presents significant opportunities for businesses prepared to navigate the complexities of the current landscape.\"
Ngai encouraged businesses to adopt strategies that embrace flexibility and foresight. He emphasized the importance of understanding regional dynamics and fostering collaborations that can withstand volatility. \"Businesses that are proactive in anticipating change will be better positioned to thrive,\" he concluded.
The forum in Davos brought together leaders from various sectors to discuss pressing global issues. Ngai's insights contributed to the broader dialogue on how economies can navigate uncertainty and leverage growth opportunities in the coming years.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
