At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling address highlighting the intensifying impact of geopolitical tensions on global trade. Speaking to an audience of international business leaders and policymakers, Ngai emphasized that escalating trade barriers and tariffs are set to reshape the global economic landscape significantly.
\"Businesses worldwide must brace for heightened volatility and uncertainty,\" Ngai asserted. He predicted a comprehensive restructuring of global trade dynamics, driven by the increasing complexity of geopolitical relationships. \"We are witnessing a pivotal moment where traditional trade patterns are being redefined,\" he added.
Despite these challenges, Ngai remained optimistic about China’s role in the global economy. He underscored China’s robust economic growth and its expanding influence on the world stage. \"China's economic resilience continues to be a stabilizing force amid global uncertainties,\" Ngai noted. He encouraged businesses to recognize the opportunities presented by China's market and its contributions to global economic stability.
Ngai's insights resonated with many at the forum, especially amid discussions on navigating the complexities of a shifting global trade environment. His emphasis on adaptability and strategic foresight provided valuable guidance for businesses aiming to thrive in an era marked by uncertainty.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
