At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed a global audience, highlighting the escalating uncertainty in the world economy driven by geopolitical tensions. Ngai emphasized that these tensions have introduced significant volatility, reshaping how businesses operate on an international scale.
He predicted a pivotal restructuring of the global trade landscape, propelled by increasing trade barriers and tariffs. \\"The traditional paradigms of global trade are shifting,\\" Ngai stated. \\"Businesses must navigate a new landscape where agility and adaptability are paramount.\\"
Despite these challenges, Ngai underscored the robust economic growth of the Chinese mainland and its rising influence on the global stage. He noted that China's dynamic market continues to offer substantial opportunities for businesses worldwide. \\"China's economy is resilient,\\" he commented. \\"Its continued growth will play a crucial role in stabilizing the global economy.\\"
Ngai's insights at Davos reflect a broader sentiment among business leaders about the need to prepare for persistent volatility and uncertainty. His perspective offers valuable guidance for entrepreneurs, investors, and policymakers grappling with the complexities of the current economic climate.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
