Despite proposals to issue super-long government bonds and other ideas for controlling debt and the federal deficit, Congress and the president must bridge a lot of uncertainties to change the system dramatically.

More than 60 countries have welcomed Chinese President Xi Jinping’s “One Belt, One Road” initiative, what is China’s rationale for pursuing this grandiose vision – one that so many countries, especially in the developing world, have embraced?

Recently, President Trump released a U.S. tax cut plan to re-shore U.S. corporate revenues. Some expect it to cause great challenges to manufacturing and capital outflows from China. The realities are more complex.

China-US economic and trade relations should look beyond the 100-day plan. It will mutually benefit China and the US to deepen economic, industrial and trade cooperation, and push for closer and deeper cooperation in the high-tech markets, while gradually eliminating investment barriers.

As the new U.S. administration has undercut its commitments to multilateral institutions and challenged free trade orthodoxy, China has upgraded its image as a pillar of globalization and doubled down on its Belt and Road Initiative. Amid the ongoing uncertainty for the future of globalization, it is thus possible to understand China’s BRI as part of a formative “Silk Road system,” an emerging economic substructure – “Sino-centric” yet symbiotic to the U.S.-shaped Bretton Woods.

The global economy now appears to be shaking off its deep post-crisis malaise, but the overhyped idea of a “new normal” for the world economy overlooks an extraordinary transformation in the global growth dynamic over the past nine years. It raises profound questions about the efficacy of monetary policy, development strategies, and the role of China.

US President Donald Trump and Chinese President Xi agreed to a 100-day plan for discussions on reducing the US trade deficit with China. It seemed to recognize that a stable US-China relationship is necessary to enable them to focus on their respective challenges.

Integration, not isolation, is the key to sustainable development in a world bound ever closely together by information and transportation networks. While trade with the U.S. remains strong, a post-TPP world will require Chile to build bridges with TPP stakeholders and new partners, such as China.

Despite China’s struggle to identify new drivers of growth, there are many positive indicators in the economy right now. We should be more result-focused and open-minded about China’s economic pursuit, and be willing to see the positive side while weighing the country’s economic future.

With economic interdependence in the era of globalization, and determination by both sides to avoid the Thucydides Trap, it is debatable that the rising power will slide into an inevitable conflict with the established power. But China’s struggle to shift from a labor-intensive economy to one driven by technology and knowledge may make other “traps” irrelevant.