At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders, emphasizing the pressing challenges posed by geopolitical tensions. Ngai highlighted how these tensions have fueled significant global uncertainty, reshaping the economic landscape.
Ngai predicted a restructuring of global trade driven by increasing trade barriers and tariffs. \\"We are witnessing a significant shift in the way countries engage economically,\\" he remarked. \\"Businesses must be prepared for heightened volatility and adapt to a new era of trade relations.\\"
Despite these challenges, Ngai underscored the robust economic growth of the Chinese mainland and its increasing influence on the global stage. \\"China's economy continues to demonstrate resilience,\\" he said. \\"Our growth is not only sustained but accelerating in key sectors, offering immense opportunities for global partnerships.\\"
He encouraged businesses to remain agile and forward-thinking. \\"In times of uncertainty, adaptability is paramount,\\" Ngai advised. \\"Companies that can navigate the complexities of this evolving landscape will emerge stronger.\\"
Ngai's insights at Davos resonated with many attendees, highlighting the critical need for businesses worldwide to recalibrate their strategies in response to global economic shifts.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
