At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the pressing issue of global uncertainty fueled by escalating geopolitical tensions. Speaking to a gathering of global leaders and business executives, Ngai emphasized that the world is witnessing unprecedented volatility affecting economies worldwide.
Ngai predicted a significant restructuring of the global trade landscape, driven by increasing trade barriers and tariffs. \"The traditional pathways of commerce are being disrupted,\" he stated. \"Businesses must adapt to a new reality where agility and resilience are key to navigating the shifting terrain.\"
Despite these challenges, Ngai underscored China's robust economic growth and its expanding influence on the global stage. He highlighted that China's commitment to innovation and openness positions it as a stabilizing force in an uncertain world. \"China continues to be a beacon of economic vitality,\" Ngai remarked. \"Its investments in technology, infrastructure, and sustainable development are creating new opportunities for global collaboration.\"
Ngai's insights resonated with many attendees who are seeking strategies to address the complexities of today's economic environment. He encouraged businesses to embrace change and leverage China’s growing market as a platform for growth. \"In times of uncertainty, those who are prepared to adapt will not just survive but thrive,\" he concluded.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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