At the World Economic Forum 2025 in Davos, Joe Ngai, chairman of McKinsey Greater China, addressed the global business community on the pressing issues of geopolitical tensions and their impact on the world economy.
Ngai emphasized that rising geopolitical tensions have fueled significant global uncertainty. He highlighted the prediction of a restructuring of the global trade landscape, driven by increasing trade barriers and tariffs. According to Ngai, these developments are set to reshape traditional trade dynamics and require businesses to adapt to new realities.
Despite these challenges, Ngai underscored the Chinese mainland's robust economic growth and its increasing influence on the global stage. He pointed out that China's economy continues to show resilience and offers opportunities for businesses willing to navigate the complexities of the current global environment.
Ngai's insights at Davos reflect the broader concerns and strategic considerations of businesses operating in an era of volatility and uncertainty. His perspectives highlight the importance of adaptability and foresight in addressing the evolving challenges of global trade.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
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