The China Dream was something of a nationalist mantra, framed as a rejuvenation by which China would recapture its former position of global prominence, commensurate with its status as the world’s second largest economy. Considerable attention is devoted to the risks and opportunities of this rebalancing – and to the related consequences for sustainable Chinese development and the broader global economy.

The Belt and Road Initiative proposed by President Xi Jinping in autumn 2013 has attracted extensive international attention in the past nearly four years. On May 14, Xi delivered a keynote speech at the opening ceremony of the Belt and Road Forum for International Cooperation. It was a highlight of the forum.

The debate about “world order” and “China’s new leadership role” is attracting more attention especially when China has more loudly expressed support to the economic globalization and free-trade at a time when these ideas are under criticism in the Western world. Many in China who are also interested in the debate find the concepts behind these terms are not as clear as they may look.

Recent nationalistic trends suggest not that globalization is dead but that it has entered a new phase. It is overly simplistic to define the momentum for change as “anti-globalization”. China now needs to work harder than ever in order to optimize and even lead globalization.

Major powers need to work together to push globalization forward in the right direction, with more equitable benefits for people in every country. Any action to gain geopolitical advantage at the expense of another major power will not only bring risks to global security but damage prospects for world economic growth.

A spectre was haunting Davos, and its name was Donald Trump.

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?

He Yafei, a former top Chinese diplomat, dissects globalism under attack and China's pursuit of a growing leadership role in global governance. Mr. He also offers his insights on what China can do to manage its ties with the Uwith the Trump administration.

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.

What we are witnessing today is not “the toss out of globalization” or “de-globalization”, but rather a new era or phase of globalization or “re-globalization” wherein greater and more complicated challenges become the order of the day. Therefore we need concerted efforts more than ever before to ascertain the big trends as well as individual difficulties and work out consensus and solutions for collective actions to “make globalization great again”. China has no option but to be in the fore front of globalization and global governance.