At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, emphasized that escalating geopolitical tensions have fueled significant global uncertainty. Speaking to an audience of global leaders and business professionals, Ngai highlighted the profound impact these tensions are having on international commerce and cooperation.
He predicted a restructuring of the global trade landscape driven by increasing trade barriers and tariffs. According to Ngai, these obstacles are forcing companies to reevaluate their strategies and supply chains, preparing for a more fragmented and unpredictable market environment.
Despite the challenges posed by this volatility, Ngai underscored China's robust economic growth and its increasing influence on the global stage. He noted that China's economy remains resilient, offering substantial opportunities for businesses and investors willing to navigate the complexities.
Ngai's remarks at Davos reflect a growing awareness among business leaders of the need to adapt to a changing global context. As geopolitical dynamics evolve, companies are encouraged to stay agile and informed, positioning themselves to thrive amid uncertainty.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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