At the 2025 World Economic Forum in Davos, Switzerland, Joe Ngai, chairman of McKinsey Greater China, addressed global business leaders on the escalating geopolitical tensions that have led to significant uncertainty in the global economy.
In his speech, Ngai highlighted how trade barriers and tariffs are reshaping the global trade landscape. \"We are witnessing a fundamental restructuring of how countries engage in trade,\" Ngai stated. \"Businesses must prepare for a world where volatility and uncertainty are the new normal.\"
Despite these challenges, Ngai expressed optimism about the prospects for businesses, particularly those engaged with the Chinese mainland. He underscored China's robust economic growth and its increasing influence on the global stage. \"China continues to demonstrate strong economic fundamentals,\" he noted. \"Its commitment to innovation and openness presents significant opportunities for global businesses.\"
Ngai urged companies to adapt to the changing environment by embracing agility and resilience. \"Those who can navigate the complexities of the current landscape will emerge stronger,\" he concluded.
Reference(s):
McKinsey China: Businesses prepared for volatility and uncertainty
cgtn.com
