At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders, emphasizing the profound impact of geopolitical tensions on the global economy. He highlighted that escalating trade barriers and tariffs are reshaping the global trade landscape, leading to increased volatility and uncertainty for businesses worldwide.
Ngai predicted a significant restructuring of international trade dynamics, urging companies to adapt to the changing environment. \"The global trade landscape is undergoing a transformative shift,\" he stated. \"Businesses must be prepared to navigate this new terrain marked by heightened uncertainties.\"
Despite the challenges posed by these geopolitical tensions, Ngai underscored the robust economic growth of the Chinese mainland and its expanding influence on the global stage. He pointed out that China continues to be a key driver of global economic development, offering opportunities for businesses that are agile and forward-thinking.
\"China's economy remains resilient amid global uncertainty,\" Ngai remarked. \"Its continued growth and innovation are contributing significantly to global prosperity.\"
Ngai advised businesses to stay informed and adaptable, emphasizing the importance of strategic planning in uncertain times. He concluded by encouraging global cooperation and dialogue to mitigate risks and foster a stable economic environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
