At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed a global audience on the pressing issue of geopolitical tensions and their impact on the world economy. Ngai emphasized that escalating geopolitical uncertainties have become a significant driver of volatility in global markets.
He predicted a substantial restructuring of the global trade landscape, attributing it to the rise of trade barriers and tariffs. \"Businesses worldwide must prepare for a new era of trade relations,\" Ngai stated. \"The traditional models are shifting, and adaptability will be key to navigating these changes.\"
Despite the challenges, Ngai highlighted the robust economic growth of the Chinese mainland and its increasing influence on the global stage. He noted that China's sustained development offers opportunities not only for domestic enterprises but also for international businesses seeking growth in a dynamic market.
\"The Chinese mainland continues to demonstrate resilience and innovation,\" Ngai remarked. \"Its expanding role in the global economy presents a wealth of opportunities for investors and businesses that are willing to engage with its evolving markets.\"
Ngai's insights at Davos resonated with many attendees, including business leaders and policymakers who are keenly observing the shifting economic tides. His emphasis on preparedness and strategic adaptation serves as a call to action for enterprises navigating the complexities of global trade in an uncertain geopolitical environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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