Like a slow motion train wreck, we can see what’s coming, but are powerless to stop it. No longer do facts matter. No longer is there appetite for cautious deliberation. No longer can we assume cooler heads will prevail. The guardrails and emergency brakes that prevented the relationship from running off the tracks in the past have fallen into disrepair. Where else to go, but into the abyss?

Nine years after the global financial crisis, while many economies are on the mend, anxiety lingers about the negative side of economic globalization. Populist and protectionist forces dismiss globalization as working against ordinary workers and widening economic inequality. Should globalization be blamed for all the problems facing the world? Is a reversal of globalization the way forward?

The full American tax reform is an enormous topic, but its impact at home is what matters, not whether the trade deficit barrows. Similarly, Beijing will respond forcefully to anything like a 35% across-the-board tariff aimed only at China. But in the case of the current BAT, China is best served by focusing on fixing its own house.

Though the international economy remains unstable, the trend of economic globalization is irresistible. In the face of populist movements, however, it is critical to demonstrate the benefits and make globalization both broader and deeper to make it fairer to developing countries and more valuable to all.

China has become a vital trading partner for the US over a long period, with bilateral commerce in 2015 reaching $598.1 billion, accounting for 16% of US foreign trade. The ensuing US trade deficit with China cannot be blamed on – or controlled by –currency exchange rates, and the new administration must think more broadly as it shapes its economic policy.

The U.S.-China trade relationship actually supports roughly 2.6 million jobs in the United States across a range of industries, including jobs that Chinese companies have created in America. The following is a list of a benefits to the U.S. economy due to trade with China, and also a link to the full report.

Humanity has to choose between pressing ahead with globalization and backpedaling. China’s president seized the moment to inject enthusiasm for economic globalization as it faces strong headwind from the US.

The CPEC was expected to bring various units of Pakistan together in an integrated economic and communication framework but has instead fanned provincialism and discord. Moreover, senior economists in Pakistan are now increasingly voicing their concern over the terms of financing from China, which is mostly shrouded in mystery.

Mr. Xi brings Davos a message of pluralism, as opposed to the universalism most of his audience has preached. He is no Davos Man. But perhaps this is just what globalization needs. Before it can be restarted, it needs a reset.

The United States is neighbor to all countries in the world, and including it in the Belt and Road development would promote American interests as well as contributing to global growth and stability. China should take active steps to win the support of the US government and enterprises as well as its people.