At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed a global audience on the pressing issue of rising geopolitical tensions and their impact on international commerce. Ngai highlighted that these tensions have injected significant uncertainty into global markets, affecting businesses and economies worldwide.
\"We are witnessing an unprecedented level of volatility,\" Ngai remarked. \"Trade barriers and tariffs are reshaping the global trade landscape, prompting companies to rethink their strategies and operations.\"
Ngai predicted a restructuring of global trade dynamics as nations grapple with protectionist policies and geopolitical rivalries. He noted that businesses must adapt to these changes, emphasizing the importance of resilience and agility in navigating the complex environment.
Despite these challenges, Ngai underscored the robust growth of the Chinese mainland's economy and its increasing influence on the global stage. \"The Chinese mainland continues to be a powerhouse of economic activity,\" he said. \"Its ongoing development and integration into the global economy present significant opportunities for businesses willing to engage and innovate.\"
Ngai encouraged global investors and entrepreneurs to remain engaged with the Chinese market, highlighting sectors ripe for collaboration and growth. He stressed that open dialogue and partnership are essential in overcoming the uncertainties posed by geopolitical tensions.
\"Businesses that can navigate these uncertainties will not only survive but thrive,\" Ngai concluded. \"It's about embracing change, fostering innovation, and building bridges across economies.\"
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
