At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling address highlighting the heightened global uncertainty fueled by ongoing geopolitical tensions. Ngai emphasized that businesses worldwide must brace for volatility as trade barriers and tariffs are set to reshape the global trade landscape.
\"We are witnessing a significant restructuring of global trade,\" Ngai stated, pointing to the increasing trade barriers that are altering economic dynamics across nations. He stressed the importance for businesses to adapt to these changes, noting that preparedness is key to navigating the uncertain terrain ahead.
Despite the challenges posed by geopolitical frictions, Ngai underscored the resilience and robust growth of China's economy. \"China continues to grow strongly and is exerting increasing influence on the global stage,\" he remarked. This growth, according to Ngai, provides opportunities for businesses that are agile and strategic in their approach.
Ngai's insights at Davos resonated with many attendees, highlighting the necessity for global businesses to remain vigilant and adaptable in the face of shifting economic and political landscapes. His comments serve as a reminder of the intertwined nature of global economies and the critical role that China plays in the world's economic future.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
