In January 2023, at the World Economic Forum in Davos, several dozen Asia-focused CEOs and senior executives of the world’s largest companies gathered for a private dinner. 

The executives had commanded operations employing tens of thousands of people, with their supply chains spanning dozens of cities from Shanghai to London and Abu Dhabi. 

They had invested heavily in, and also reaped the benefits of China’s rise over the past two decades.

But yet for the first time in memory, the mood was different. The conversation didn’t centre around growth targets or market expansion, but instead, it was about whether their China strategies worked at all. 

It was about how China is navigating geopolitical tensions, economic uncertainty, the ongoing housing market downturn and rapid technological change. 

And with that comes the big question. “What’s the next China?” How should companies diversify or hedge against China? 

Well, according to the host of that private dinner, Joe Ngai, Chairman, McKinsey Greater China, the next China, is still China.

He details why in his new book “The Next China is still China”, co-written with Nick Leung, McKinsey Global Institute Director and Senior Partner in Hong Kong.

In this “In the Community” Special episode of Under the Radar, finance presenter Chua Tian Tian sat down with Joe Ngai, Chairman, McKinsey Greater China for more. They also discussed how companies can redesign their strategies to sell to China going forward.