Davos, Switzerland – At the 2025 World Economic Forum, Joe Ngai, chairman of McKinsey Greater China, emphasized the need for businesses to brace for heightened volatility and uncertainty in the global economy.
Addressing a global audience of industry leaders and policymakers, Ngai highlighted that escalating geopolitical tensions have significantly fueled worldwide uncertainty. \"We are witnessing an era where trade barriers and tariffs are reshaping the global trade landscape,\" he stated. \"Businesses must adapt to this new reality by preparing for potential disruptions and seeking opportunities within emerging markets.\"
Despite these challenges, Ngai underscored China's robust economic growth and its increasing influence on the global stage. He pointed out that China's momentum offers businesses unique opportunities amidst global turbulence. \"China continues to be a driving force in the global economy,\" he noted. \"Its commitment to innovation and openness presents avenues for investment and collaboration.\"
Ngai also urged businesses to develop strategies that account for the evolving economic dynamics. \"Resilience and agility are key,\" he advised. \"Organizations that can navigate uncertainty and leverage growth in regions like China will be better positioned for success.\"
The forum's discussions reflect a broader concern among global leaders about the impact of geopolitical tensions on economic stability. As businesses worldwide grapple with these issues, insights from leaders like Ngai provide valuable guidance on navigating the complexities of the current economic climate.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
