At the 2025 World Economic Forum in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the pressing issues of global uncertainty and economic volatility. He highlighted how escalating geopolitical tensions are reshaping the international business landscape, causing significant disruptions in global trade and investment flows.
Ngai emphasized that trade barriers and tariffs are driving a restructuring of global trade, compelling businesses to adapt to a new era of economic dynamics. \"Companies need to prepare for a landscape marked by volatility and uncertainty,\" he stated, urging business leaders to develop strategies that are resilient to geopolitical shifts.
Despite these challenges, Ngai expressed optimism about China's economic trajectory. He underscored China's robust economic growth and its increasing influence on the global stage. \"China continues to demonstrate strong economic fundamentals and remains a key player in driving global economic growth,\" he remarked.
Ngai's insights shed light on the critical need for businesses to navigate the complexities of the current global environment while recognizing the opportunities presented by China's evolving market.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
