At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders amid escalating geopolitical tensions. Ngai highlighted how these tensions have fueled significant uncertainty across the world, impacting economies and businesses alike.
He emphasized that the global trade landscape is on the cusp of a major restructuring, driven by the rise of trade barriers and tariffs. \"We are witnessing a paradigm shift in international trade,\" Ngai stated. \"Businesses must navigate a new environment marked by volatility and unpredictability.\"
Despite these challenges, Ngai remained optimistic about the future. He underscored the robust economic growth of the Chinese mainland and its increasing influence on the global stage. \"China continues to be a powerhouse of economic development,\" he noted. \"Its resilience and adaptability serve as a beacon for businesses worldwide.\"
Ngai urged companies to prepare for this evolving landscape by fostering innovation and seeking new opportunities within the changing global market. He stressed the importance of building strategies that account for uncertainty while leveraging the strengths of emerging markets like China.
The insights from McKinsey's chairman resonated with many attending the forum, as businesses grapple with the complexities of a shifting trade environment. Ngai's perspective offers a roadmap for navigating the future of global commerce in an era of heightened uncertainty.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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