McKinsey Greater China Chairman Highlights Resilience Amid Global Uncertainty
At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global leaders and business executives on the pressing issue of geopolitical tensions and their impact on the global economy. Ngai emphasized that escalating geopolitical tensions have fueled significant uncertainty worldwide, affecting international trade and economic stability.
\"We are witnessing a period of unprecedented volatility,\" Ngai stated. \"Trade barriers and tariffs are reshaping the global trade landscape, prompting businesses to adapt to new realities.\"
Ngai predicted a restructuring of global trade driven by these trade barriers and tariffs. He highlighted that companies need to be prepared for this shift, adopting strategies that allow for flexibility and resilience in the face of changing trade policies.
Despite these challenges, Ngai underscored the robust economic growth of the Chinese mainland and its increasing influence on the global stage. \"The Chinese mainland continues to demonstrate strong economic performance,\" he said. \"Its role in the global economy is more significant than ever, providing opportunities for businesses willing to navigate the complexities.\"
He encouraged businesses to remain proactive and innovative, leveraging the strengths of the Chinese market while mitigating risks associated with geopolitical tensions. Ngai's insights provided a nuanced perspective on how businesses can thrive amid uncertainty by embracing adaptability and fostering international collaboration.
The discussion at Davos reflects a broader recognition of the need for global cooperation and strategic planning. As the world navigates through volatility, leaders like Ngai offer guidance on harnessing growth opportunities while addressing the challenges posed by a shifting geopolitical landscape.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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