At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global leaders and business professionals about the escalating geopolitical tensions and their impact on the global economy. Ngai highlighted how these tensions have fueled significant uncertainty, affecting markets and businesses worldwide.
\"We are witnessing an era where volatility is the new normal,\" Ngai stated. \"Trade barriers and tariffs are reshaping the global trade landscape, prompting companies to rethink their strategies and supply chains.\"
Despite the challenges, Ngai expressed optimism about China's economic trajectory. He emphasized the country's robust growth and its increasing influence on the global stage. \"China continues to be a powerhouse in the global economy,\" he said. \"Its resilience and adaptability position it well to navigate the complexities of today's world.\"
Ngai urged businesses to prepare for continued volatility by embracing flexibility and innovation. \"In times of uncertainty, agility is key,\" he advised. \"Companies that can adapt quickly will not only survive but thrive.\"
The insights shared by Ngai resonated with attendees, including entrepreneurs, investors, and policymakers, highlighting the importance of collaboration and strategic planning in uncertain times.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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