At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the mounting challenges faced by businesses worldwide. With geopolitical tensions escalating, Ngai emphasized that uncertainty has become the new norm for global markets.
\"We are witnessing a significant restructuring of the global trade landscape,\" Ngai stated. \"Trade barriers and tariffs are redefining how businesses operate across borders. Companies must adapt quickly to navigate this new reality.\"
Ngai highlighted that despite these hurdles, China's economy continues to exhibit robust growth. He noted that China's increasing influence on the global stage presents both opportunities and challenges for international businesses.
\"China remains a key player in the global economy,\" Ngai remarked. \"Its resilience and adaptability are critical factors that contribute to its sustained economic momentum.\"
He urged businesses to prepare for ongoing volatility by embracing flexibility and innovation. \"Organizations that can pivot and respond to changing market dynamics will be better positioned to thrive,\" he advised.
The discussion underscored the importance of strategic planning in an era of uncertainty. Ngai's insights resonated with attendees seeking guidance on how to navigate the complexities of the current economic environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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