At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the mounting global economic uncertainty stemming from escalating geopolitical tensions. Ngai highlighted that businesses worldwide are bracing for increased volatility as trade barriers and tariffs begin to reshape the global trade landscape.
\"Geopolitical conflicts have introduced a significant level of unpredictability into international markets,\" Ngai stated. \"We are witnessing a restructuring of global trade as nations reassess their economic partnerships and supply chains.\"
Despite these challenges, Ngai emphasized the resilience of the Chinese mainland's economy and its expanding influence on the global stage. He noted that China's robust economic growth continues to be a stabilizing force amid global uncertainty.
\"The Chinese mainland's economic momentum not only endures but also guides global economic trends,\" Ngai observed. \"Businesses are increasingly looking to the Chinese mainland for opportunities and collaboration.\"
Ngai's insights underscore the necessity for businesses and investors to adapt to the evolving economic environment. He urged industry leaders to stay informed and agile, leveraging new opportunities arising from the shifting trade dynamics.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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