Weakening political will on the part of the United States and others is undermining the global commons necessary for good global governance. That’s where China comes in.

A recent report by Mackenzie said that the country’s dependence on the world has shrunk, even as the world’s dependence on Chinese production and exports has continued to rise.

Its new ideas and approaches are broadly beneficial and have already involved many countries, even as the United States and others have tried to impede progress for selfish reasons.

To prevent countries’ interdependence from becoming a competitive weapon, countries should regard restraint and consensus as the hallmarks of a new framework in trade relations.

Globalization has brought a new set of international issues to the table. A neutral voice of moderation that understands the world’s challenges should emerge to avoid decoupling or disaster.

Today’s trade disputes epitomize a new stage of the globalization process. More and more countries are employing trade sanctions and customs duties for the purpose of national security. As globalization moves from integration to fragmentation and as competition becomes more intense and friction more frequent, open markets will become increasingly rare.

Drawing upon the past 70 years of Chinese global engagement, Vice-Minister He shines light on how multilateralism has benefited the Chinese nation as well as how China has played an important role — and can continue to play such a role — in the success of this ideology across the world. With the chaos brought by the new US regime and the rise of global populism, He emphasizes the need for China as an emerging power to support and help maintain multilateralism domestically and internationally.

US President Donald Trump has been accused of weaponizing economic globalization. Sanctions, tariffs, and the restriction of access to dollars have been major instruments of his foreign policy, and he has been unconstrained by allies, institutions, or rules in using them.

In updating its Foreign Investment Law, Beijing makes clear its continued commitment to improving China’s business environment. Indeed, China is pushing back on the global trend of “deglobalization.” Nonetheless, Beijing must take into account new US restrictions based on national security.