Ngai highlighted that trade barriers and tariffs are reshaping the global trade landscape, predicting a significant restructuring in the coming years. \\"Businesses must prepare for increased volatility and adapt to a new era of trade relations,\\" he stated, urging enterprises to reassess their strategies in light of these challenges.
Despite the obstacles, Ngai pointed to China's robust economic growth as a beacon of stability. He noted that China's economy continues to expand, driven by innovation and domestic consumption. \\"China's increasing influence on the global stage presents both opportunities and challenges for businesses around the world,\\" Ngai remarked.
He encouraged global businesses to engage with the evolving Asian markets, emphasizing the importance of understanding regional trends and consumer behaviors. \\"Asia's dynamic role in global affairs cannot be ignored,\\" Ngai added, highlighting the significance of Asia-Pacific economies in driving future growth.
Ngai's insights underscored the need for businesses, investors, and policymakers to navigate the complexities of the current economic climate proactively. By embracing adaptability and fostering global cooperation, he suggested that companies could turn uncertainties into opportunities.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
