Chinese President Xi Jinping’s outreach to the president of Ukraine, Volodymyr Zelenskyy, could be a game-changer. The call was welcomed by Zelenskyy, who called it “long and meaningful.” As Beijing steps into its role as a global peacemaker, the world is taking notice.

The EU’s pursuit of becoming an autonomous and influential global power, while balancing relationships with the U.S. and China, was jolted by the Russian invasion of Ukraine. The EU aims to collaborate and compete as an equal with both powers, while improving its domestic strength, ensuring reciprocity, and linking trade to geopolitics, foreign policy, and security. And the Comprehensive Agreement on Investment, executing the EU strategy in Asia and the Indo-Pacific, and establishing a collective defense structure with operational objectives, are three projects that could help achieve these goals.

Europe faces three imperatives: It needs to seize the opportunity presented by China’s post-pandemic reopening; it needs China as a stabilizer, in light of the unpredictable prospect of peace in Eastern Europe; and it needs to rebalance its relationship with the United States because of dramatic international shifts in recent years.

China’s latest diplomatic win, an expansive agreement with France, goes a long way in confirming China’s dream of becoming a global hegemon. Yet with conflict raging in Europe to this day, the end of the road is nowhere near.

China has kick-started a phase of public-facing diplomacy overtures, encompassing Europe, the Middle East, and its own situation with Taiwan. The wave of meetings and visits shows a remarkable change in China’s reception from the international community, as well as where it might still improve its relations.

French President Emmanuel Macron and European Commission President Ursula von der Leyen clearly signaled that trade, not ideology, will continue to anchor China-EU relations. Even so, the Russia-Ukraine conflict could complicate matters if not resolved.

The EU and U.S. recently announced a deal providing America favorable treatment to European critical materials. The agreement will deepen cooperation and decrease their dependency on China, but potential consequences remain uncertain. In the future, the EU should adopt a more ambitious stance to strengthen their position as a self-reliant and influential global geopolitical force, as they navigate the delicate balance between Beijing and Washington.

Next winter, Europe is likely to face a challenging time in the energy market, in part due to China’s increased energy demand post-COVID lockdowns. As European countries reduce their dependence on Russian pipeline gas and imports of liquified natural gas, they will face challenges and potential shortages that might impact energy supply security and pricing.

As the war in Ukraine marks its one year anniversary, and with the recent announcement of China’s call for a ceasefire and peace talks between Russia and Ukraine, it’s imperative to analyze history and to consider further pathways to peace. Ultimately, China is best positioned to lead the way to the end of the war, and them doing so would be for the betterment of the world.

It’s not in China’s best interests to be trapped in a bilateral tit-for-tat with the United States. We can do better by reaching out constructively to other developed countries. We will win the contest if we can do this.