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, shedding light on the escalating geopolitical tensions that have ushered in an era of significant global uncertainty.
Ngai emphasized that the intertwining of politics and economics is reshaping the global trade landscape. \"We are witnessing a restructuring driven by heightened trade barriers and tariffs,\" he stated. \"Businesses must adapt to a new normal of volatility and uncertainty.\"
He highlighted that the traditional models of globalization are being challenged, and companies need to reassess their strategies to navigate this evolving environment. Despite these headwinds, Ngai underscored the resilience and robust growth of China's economy.
\"China continues to grow at a remarkable pace,\" Ngai noted. \"Its increasing influence on the global stage presents abundant opportunities for businesses and investors who are prepared to engage with this dynamic market.\"
He urged global businesses to remain agile and forward-thinking. \"In times of uncertainty, those who are adaptable and innovative will find ways to thrive,\" he said.
Ngai's insights offer a roadmap for entrepreneurs, investors, and market analysts seeking to understand and navigate the complexities of the Asian markets amidst global shifts.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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