At the 2025 World Economic Forum in Davos, Joe Ngai, Chairman of McKinsey Greater China, addressed a gathering of global leaders and business executives, emphasizing the heightened volatility and uncertainty facing businesses worldwide.
\"Geopolitical tensions have introduced a significant level of uncertainty into the global marketplace,\" Ngai stated during his keynote speech. \"Trade barriers and tariffs are not just abstract concepts; they are reshaping the very fabric of international trade.\"
Ngai predicted a restructuring of the global trade landscape, propelled by increasing trade barriers and tariffs. He highlighted the need for businesses to adapt to this new reality by being agile and prepared for rapid changes.
Despite these challenges, Ngai underscored the resilience of the Chinese mainland's economy. \"China's robust economic growth continues unabated,\" he remarked. \"Its increasing influence on the global stage is a testament to its strategic planning and commitment to innovation.\"
He called on global businesses to recognize the opportunities within China, noting that the Chinese mainland remains a crucial market for international trade and investment.
\"This is a time for businesses to reassess their strategies,\" Ngai advised. \"Embracing uncertainty and volatility is essential for navigating the complexities of today's global economy.\"
Ngai's insights resonated with many attendees, particularly entrepreneurs and investors seeking to understand the shifting economic landscape. His emphasis on adaptability and strategic foresight provided valuable guidance for businesses aiming to thrive amid global uncertainties.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
