At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling address highlighting the pressing challenges and opportunities facing global businesses. Amid escalating geopolitical tensions, Ngai emphasized that companies must brace themselves for heightened volatility and uncertainty in the global marketplace.
\"Geopolitical tensions have fueled significant global uncertainty,\" Ngai stated, underscoring the complex interplay between international relations and economic stability. He pointed to the increasing prevalence of trade barriers and tariffs, predicting a consequential restructuring of the global trade landscape. \"Businesses need to adapt to a world where trade barriers are the new normal,\" he noted.
Despite these challenges, Ngai expressed optimism about the Chinese mainland's economic trajectory. \"China's robust economic growth continues to be a beacon of resilience,\" he said, highlighting the nation's increasing influence on the global stage. He encouraged businesses to recognize the opportunities arising from China's expanding market and its pivotal role in international trade.
Ngai's insights resonated with many leaders and investors at the forum, who are keenly aware of the shifting dynamics in global trade. His remarks served as both a caution and a call to action for businesses to remain agile and forward-thinking.
\"Adaptation is key,\" Ngai concluded. \"In an era of uncertainty, those who are prepared to navigate volatility will find new paths to growth and success.\"
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
