At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the escalating geopolitical tensions that have injected significant uncertainty into the global economy. He emphasized that businesses must prepare for increased volatility as trade barriers and tariffs begin to reshape the global trade landscape.
\"Geopolitical dynamics are introducing unprecedented levels of uncertainty,\" Ngai remarked during his keynote speech. \"Companies worldwide need to adapt swiftly to the changing trade environment, recalibrating their strategies to navigate the emerging challenges.\"
Despite these challenges, Ngai underscored the robust economic growth of the Chinese mainland and its growing influence on the global stage. He highlighted that China's economy continues to offer significant opportunities for businesses and investors.
\"China remains a powerhouse of economic growth,\" Ngai stated. \"Its resilience and ongoing reforms present ample avenues for global enterprises seeking to engage with the Chinese market.\"
Ngai's insights underscore the need for businesses to remain agile and forward-thinking in an era marked by rapid change and uncertainty. He urged leaders to foster innovation, invest in digital transformation, and build resilient supply chains to withstand future disruptions.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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