At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders with a sobering message about the future of international trade. He highlighted that escalating geopolitical tensions are contributing to significant global uncertainty, affecting economies worldwide.
Ngai predicted a substantial restructuring of the global trade landscape, driven primarily by increasing trade barriers and tariffs. \"Businesses must prepare for heightened volatility and adapt to a new era of international commerce,\" he stated.
Despite these challenges, Ngai underscored the resilience and robust growth of the Chinese mainland's economy. He emphasized China's increasing influence on the global stage, suggesting that it remains a pivotal player in shaping the future of global trade.
\"China's economic momentum continues unabated,\" Ngai remarked. \"Its commitment to innovation and openness positions it as a cornerstone of global economic stability and growth.\"
He encouraged businesses to stay agile and responsive to the evolving trade environment, noting that opportunities still abound for those willing to navigate the complexities.
The insights from Ngai at the Davos forum resonated with many attendees, highlighting the need for strategic planning and international cooperation in an uncertain global economic climate.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
