At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the pressing issue of rising geopolitical tensions and their impact on the global economy. Ngai emphasized that these tensions have fueled significant uncertainty worldwide, affecting trade dynamics and economic stability.
He predicted a substantial restructuring of the global trade landscape, driven primarily by increasing trade barriers and tariffs. \\"Businesses around the world must prepare for a new era of trade relations,\\" Ngai stated. \\"We are witnessing a shift that requires adaptability and strategic planning.\\"
Despite the challenges posed by this evolving landscape, Ngai highlighted China's robust economic growth and its increasing influence on the global stage. He pointed out that China's economy continues to demonstrate resilience and opportunity. \\"China remains a vital player in the global economy,\\" Ngai remarked. \\"Its growth trajectory offers a beacon of stability amid worldwide volatility.\\"
Ngai's insights at Davos underscore the need for businesses to navigate uncertainty with foresight and agility. His remarks serve as a call to action for global enterprises to rethink their strategies in light of changing geopolitical realities while recognizing the significant role that China plays in shaping the future of international trade.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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