At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling message about the current state of global business. Addressing an audience of international leaders and industry experts, Ngai emphasized that geopolitical tensions have escalated, fueling significant global uncertainty.
Ngai predicted a substantial restructuring of the global trade landscape, driven by the rise of trade barriers and tariffs. \"Businesses around the world must prepare for increased volatility and navigate through an era of unprecedented change,\" he stated.
Despite these challenges, Ngai highlighted the resilience of China's economy. He underscored China's robust economic growth and its increasing influence on the global stage. \"China continues to play a pivotal role in the global economy, offering opportunities amid the turbulence,\" Ngai noted.
He encouraged global businesses to adapt to these shifts by embracing innovation and fostering stronger collaboration. Ngai's insights provide valuable guidance for entrepreneurs, investors, and policymakers navigating the complexities of today's economic environment.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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