At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, shared insights on the evolving global economic landscape amid rising geopolitical tensions.
Ngai highlighted how these tensions have fueled significant uncertainty worldwide, impacting businesses and economies alike. He emphasized that the escalating trade barriers and tariffs are reshaping global trade dynamics, leading to a restructuring of international markets.
Despite these challenges, Ngai expressed confidence in the Chinese mainland's robust economic growth. He underscored China's increasing influence on the global stage, noting that it continues to play a pivotal role in driving global economic development.
\"Businesses must prepare for volatility and uncertainty,\" Ngai stated. He encouraged entrepreneurs and investors to adapt to the changing environment by seeking new opportunities and fostering innovation within the shifting global trade framework.
Ngai's remarks at Davos underscore the critical importance of agility and resilience in the face of global economic shifts. As China continues to assert its influence, businesses worldwide are urged to navigate the complexities of the new economic order proactively.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
