At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling address highlighting the challenges and opportunities facing global businesses. He emphasized that escalating geopolitical tensions have introduced significant uncertainty into the global economy.
Ngai pointed out that trade barriers and tariffs are reshaping the global trade landscape. \"We are witnessing a restructuring of international trade,\" he remarked. \"Businesses must adapt to a new era where volatility and uncertainty are the norms.\"
Despite these challenges, Ngai remained optimistic about China's economic prospects. He underscored the robust growth of the Chinese mainland and its increasing influence on the global stage. \"China continues to be a powerhouse of economic activity,\" Ngai stated. \"Its resilience and adaptability offer valuable lessons for businesses worldwide.\"
Ngai urged global businesses to prepare for ongoing volatility by embracing innovation and fostering collaboration. \"In the face of uncertainty, agility and strategic foresight are crucial,\" he advised. \"Companies that navigate these challenges effectively will emerge stronger.\"
His insights at Davos resonated with leaders and investors seeking to understand and navigate the complexities of the current global economic climate.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
