At the 2025 World Economic Forum in Davos, Joe Ngai, Chairman of McKinsey Greater China, addressed global business leaders about the pressing challenges facing the international economic landscape. Ngai emphasized that escalating geopolitical tensions have created significant uncertainty for businesses worldwide.
\"Businesses must navigate an increasingly volatile environment marked by trade barriers and tariffs,\" Ngai stated. He predicted a fundamental restructuring of the global trade landscape as companies adapt to new economic realities. \"Flexibility and resilience are no longer optional; they are imperative for survival and growth,\" he added.
Despite these challenges, Ngai highlighted the robust economic growth of the Chinese mainland and its rising influence on the global stage. \"The Chinese mainland continues to demonstrate economic strength and innovation,\" he noted. \"Its role in the global economy is more crucial than ever, offering opportunities for those willing to engage with its dynamic markets.\"
Ngai's insights resonated with many attendees, reflecting the concerns and hopes of business professionals and investors looking to navigate this complex environment. His emphasis on the need for adaptability and strategic foresight provided valuable guidance for entrepreneurs, market analysts, and academics alike.
The forum served as a platform for discussing not only the challenges but also the opportunities arising from these global shifts. Ngai encouraged global collaboration and open dialogue to foster stability and growth. \"It's essential that we work together to build a sustainable and inclusive economic future,\" he concluded.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
