At the 2025 World Economic Forum in Davos, the atmosphere was charged with discussions about the shifting global landscape. Joe Ngai, chairman of McKinsey Greater China, took the stage to address a packed auditorium, shedding light on the pressing issue of global uncertainty driven by geopolitical tensions.
Ngai emphasized that businesses worldwide must brace themselves for a period characterized by volatility and unpredictability. \\"Geopolitical tensions have fueled significant global uncertainty,\\" he remarked, pointing to the rise of trade barriers and tariffs reshaping the global trade landscape.
He predicted that these developments would lead to a restructuring of international trade, compelling businesses to adapt their strategies. \\"The era of predictable globalization is giving way to a more fragmented world,\\" Ngai observed. \\"Companies need to be agile and prepared for this new reality.\\"
Despite the challenges, Ngai highlighted a beacon of stability: China's robust economic growth. \\"Amidst the global turbulence, China's economy continues to demonstrate resilience,\\" he noted. \\"Its increasing influence on the global stage presents opportunities for businesses that are ready to navigate these complex times.\\"
Ngai's insights underscored the need for businesses to stay informed and adaptable. His address served as a call to action for global leaders and investors to recognize the shifting dynamics and to prepare for the changes ahead.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
