At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders, highlighting the impact of geopolitical tensions on economic stability. Ngai emphasized that escalating geopolitical tensions have fueled significant uncertainty across global markets.
He predicted a substantial restructuring of the global trade landscape, driven by increasing trade barriers and tariffs. \"Trade barriers and tariffs are reshaping how countries interact and how businesses operate globally,\" Ngai stated, urging companies to prepare for these shifts.
Despite these challenges, Ngai expressed optimism about China's economic trajectory. He underscored China's robust economic growth and its expanding influence on the global stage. \"China continues to demonstrate strong economic performance,\" he noted, \"and its role in the global economy is more influential than ever.\"
Ngai advised global businesses to adapt to these changes by embracing flexibility and innovation. \"In times of uncertainty, resilience and adaptability become paramount,\" he said. He encouraged businesses to seek opportunities within the evolving landscape, leveraging China's growth and influence.
The discussion underscored the need for businesses worldwide to stay informed and proactive in the face of geopolitical shifts, as they navigate the complexities of global trade and economic interdependencies.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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