At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders amid a backdrop of mounting geopolitical tensions and economic uncertainty.
Ngai emphasized that the current geopolitical climate has fueled significant uncertainty worldwide. He highlighted that trade barriers and tariffs are leading to a restructuring of the global trade landscape. \"Businesses need to be prepared for increased volatility and unpredictability,\" Ngai stated, underscoring the importance of strategic planning and adaptability in such times.
Despite these challenges, Ngai expressed optimism about China's economic prospects. He underscored China's robust economic growth and its increasing influence on the global stage. \"China remains a key driver of global economic growth,\" he noted, encouraging businesses to recognize the opportunities presented by the Chinese market.
Ngai's insights resonated with many attendees, offering a balanced perspective on navigating the complexities of the current global economic environment while highlighting the potential that lies within China's evolving market dynamics.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
