At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed a global audience with a clear message: businesses must brace for an era of heightened volatility and uncertainty. Ngai highlighted how escalating geopolitical tensions have become a significant catalyst for global unpredictability.
\"We are witnessing a profound transformation in the global trade landscape,\" Ngai stated. \"Trade barriers and tariffs are reshaping how economies interact, leading to a restructuring that businesses must navigate carefully.\"
Despite these challenges, Ngai expressed confidence in China's robust economic growth and its expanding influence on the world stage. He pointed out that China's resilience and adaptability make it a pivotal player in the evolving global market.
\"China's economy continues to grow steadily, offering numerous opportunities for businesses willing to engage with its dynamic market,\" Ngai remarked. \"It's essential for global enterprises to understand and adapt to China's role in the international arena.\"
Ngai's insights underscore the need for businesses to prepare strategically for uncertainties while capitalizing on emerging opportunities within China's economy. His address at Davos serves as a timely reminder of the importance of agility and foresight in today's complex economic environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
