At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, delivered a compelling address on the state of global economics amidst rising geopolitical tensions. Speaking to an audience of global leaders and industry experts, Ngai emphasized that these tensions have injected significant uncertainty into international markets.
\"Geopolitical dynamics are reshaping the way businesses operate across borders,\" Ngai stated. \"We are witnessing a restructuring of the global trade landscape, driven by the introduction of trade barriers and tariffs.\"
Ngai highlighted that businesses worldwide must adapt to this evolving environment by preparing for volatility and uncertainty. He suggested that companies should reassess their global strategies and supply chains to navigate the changing landscape effectively.
Despite the challenges posed by geopolitical unrest, Ngai underscored China's robust economic growth and its increasing influence on the global stage. \"China continues to demonstrate strong economic resilience,\" he remarked. \"Its expanding role in the global economy presents both opportunities and imperatives for global businesses.\"
Ngai's insights at Davos reflect a broader recognition of China's pivotal position in the world economy. He urged international businesses to engage thoughtfully with the Chinese market, taking into account the complexities and opportunities it presents.
The address concluded with a call for collaborative efforts to mitigate the impacts of geopolitical tensions. Ngai advocated for dialogue and cooperation as means to foster stability and continued growth in the global economy.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
