At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, highlighted the profound impact of geopolitical tensions on the global economy. Speaking to a diverse audience of global leaders, business professionals, and academics, Ngai emphasized that these tensions have fueled significant uncertainty worldwide.
\"We are witnessing a restructuring of the global trade landscape,\" Ngai stated. He pointed out that trade barriers and tariffs are driving this shift, necessitating businesses to adapt swiftly to the evolving environment. Ngai urged companies to prepare for increased volatility and to develop strategies that can withstand these changes.
Despite the challenges, Ngai expressed optimism about China's role in the global economy. He underscored China's robust economic growth and its increasing influence on the world stage. \"China continues to be a powerhouse of economic development,\" he noted, highlighting opportunities for investors and businesses looking to engage with the Chinese market.
Ngai's insights resonate with many who see the importance of understanding and navigating the complexities of global trade amid geopolitical shifts. His remarks serve as a call to action for businesses to remain agile and informed in an era of uncertainty.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
