At the 2025 World Economic Forum in Davos, Joe Ngai, the chairman of McKinsey Greater China, addressed global business leaders, emphasizing the profound impact of geopolitical tensions on the world's economic landscape. Ngai pointed out that these tensions have sparked significant uncertainty, leading to a restructuring of global trade due to increasing trade barriers and tariffs.
"Businesses around the world must prepare for volatility and uncertainty," Ngai stated. "The traditional trade dynamics are shifting, and companies need to navigate a landscape marked by new tariffs and regulatory challenges."
Despite these challenges, Ngai highlighted the resilience and robust growth of China's economy. He noted that China's continued expansion and its growing influence on the global stage present significant opportunities for businesses willing to adapt.
"China remains a cornerstone of global economic growth," Ngai remarked. "Its innovation and development offer immense potential for international collaboration and investment."
Ngai encouraged business leaders to remain agile and forward-thinking, leveraging technological advancements and fostering partnerships to navigate the evolving trade environment. He underscored the importance of understanding regional dynamics and adapting strategies accordingly.
The discussions at Davos this year reflect a broader recognition of the changing global order. With leaders like Ngai providing insights, businesses are gaining perspectives on how to thrive amid uncertainty and leverage new opportunities arising from these shifts.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
