At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the pressing issue of geopolitical tensions and their impact on the global economy. Ngai emphasized that these tensions have created significant uncertainty worldwide, leading to a reshaping of the global trade landscape.
\"We are witnessing an era of increased volatility,\" Ngai stated. \"Trade barriers and tariffs are driving a fundamental restructuring of international trade. Businesses must adapt to these changes to navigate the new economic reality.\"
Despite the challenges posed by geopolitical shifts, Ngai highlighted China's robust economic growth and its expanding influence on the global stage. He noted that China's continued development presents valuable opportunities for businesses and investors worldwide.
\"China's economy remains resilient,\" he said. \"Its growth trajectory and increasing global influence offer a wealth of prospects for those willing to engage with the region.\"
Ngai's insights resonated with attendees, including entrepreneurs, investors, and policymakers, who are keenly observing the evolving dynamics of Asian markets and their implications for global trade and economic trends.
The forum provided a platform for in-depth discussions on navigating the complexities of the current economic climate, emphasizing the need for strategic partnerships and innovative approaches to sustain growth amid uncertainty.
Overall, Ngai's address underscored the importance of adapting to changing geopolitical landscapes and recognizing the pivotal role China plays in the global economy.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
