At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the pressing issue of global uncertainty fueled by escalating geopolitical tensions. Ngai highlighted how these tensions have led to significant volatility, affecting economies and businesses worldwide.
He predicted a restructuring of the global trade landscape driven by increasing trade barriers and tariffs. \"We are witnessing a fundamental shift in how countries engage in trade,\" Ngai stated. \"Businesses must prepare for a new era where adaptability to changing trade policies becomes crucial.\"
Despite these challenges, Ngai underscored China's robust economic growth and its increasing influence on the global stage. He emphasized that China's resilience offers opportunities for businesses willing to navigate the complexities of the current environment. \"China continues to be a driving force in the global economy,\" Ngai noted. \"Organizations that understand and align with China's economic trajectory stand to benefit greatly.\"
Ngai's insights resonated with many attendees, shedding light on the need for businesses to strategize amidst uncertainty. The discussions at Davos 2025 highlighted the importance of collaboration and innovation in addressing global economic challenges.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
