At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the pressing issue of escalating geopolitical tensions. Ngai highlighted that these tensions have significantly contributed to global uncertainty, affecting economies and businesses worldwide.
He predicted a major restructuring of the global trade landscape, driven by increasing trade barriers and tariffs. \\"We are witnessing a pivotal shift in international trade dynamics,\\" Ngai stated. \\"Businesses must adapt to new trade policies and navigate through the complexities of tariffs and regulations.\\"
Despite the challenges, Ngai expressed optimism about China's economic trajectory. He underscored China's robust economic growth and its expanding influence on the global stage. \\"China continues to be a significant driver of global growth,\\" he noted. \\"Its resilience and adaptability are key factors in navigating the current economic climate.\\"
Ngai encouraged businesses to be prepared for volatility and uncertainty. He emphasized the importance of strategic planning and flexibility in operations to mitigate risks associated with geopolitical tensions. \\"Businesses that are proactive in adjusting their strategies will be better positioned to succeed,\\" he advised.
The forum served as a platform for global leaders to discuss the implications of geopolitical shifts on economies and businesses. Ngai's insights provided valuable perspectives for entrepreneurs, investors, and policymakers looking to navigate the evolving global trade environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
