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Fortune
Fortune
Joe Ngai

McKinsey's China chairman: What Asia's business leaders are worried about in 2025

(Credit: Graham Uden for Fortune)

When I attended the World Economic Forum’s annual gathering in Davos last month, Asia’s business executives were buzzing about the forces transforming the region. It’s a busy time: A new U.S. administration is proposing to revise the international trading system, a little-known Chinese startup is puncturing narratives about AI, and several Asian countries just reported 2024 as their warmest year on record.

The 21st century may indeed belong to Asia, and the rewards could be enormous—but only for those who are prepared. Here are a few of the major themes, born from deep discussions with my Asian executive peers, that will drive the region in the coming year.

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