At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling message on the resilience of businesses amid escalating global uncertainty. Addressing a diverse audience of global leaders, business professionals, and academics, Ngai emphasized that geopolitical tensions have significantly increased volatility in the international economic landscape.
Ngai predicted a restructuring of global trade networks, driven by the rise of trade barriers and tariffs. \"We are witnessing a paradigm shift in how countries engage in trade,\" he noted. \"Businesses must adapt to new realities characterized by fragmentation and protectionism.\"
Despite these challenges, Ngai underscored the robust growth of the Chinese mainland's economy and its expanding influence on the global stage. \"China remains a powerhouse of economic development,\" he stated. \"Its commitment to innovation and openness will continue to drive global progress.\"
Ngai's insights resonated with many attendees who are navigating the complexities of an ever-changing economic environment. His remarks highlighted the importance of agility and strategic planning for businesses seeking to thrive amidst uncertainty.
The 2025 World Economic Forum serves as a critical platform for leaders to discuss pressing issues and collaborate on solutions that promote global stability and prosperity.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
