The UN and China should fill the vacuum the US is leaving.

But no one should be tempted by exaggerated projections of Chinese power. If the US maintains its alliances with democratic Japan and Australia and continues to develop good relations with India, it will hold the high cards in Asia. In the global military balance, China lags far behind, and in terms of demography, technology, the monetary system, and energy dependence, the US is better placed than China in the coming decade. In the Soft Power 30 index, China ranks 25th, while the US is third.

Industrial technological competition is at the center of China-US competition.

As Trump pulls the US back from the world stage, China steps up.

World order is changing fast. China and the US need to forge a closer relationship that will serve as a solid anchor for a world buffeted by strong winds and hail.

Recently, the leaders of the world descended upon New York City for the opening of the 72nd United Nations General Assembly. However, despite Trump’s debut speech generating great interest and concern amongst the world and it’s leaders, several notable leaders were absent, namely China’s President Xi Jinping.

The end of the Cold War and China’s integration into the world economy generated the context that led to a serious soul searching for China’s “identity” in the international system. While a shifting balance of power, socialization, and crises have driven China’s involvement in global governance, they have not led to similar advancement in U.S.-China cooperation in global governance.

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.

The world was shaken up last year by events from populist movements to terrorism to shifting alliances. How major powers react to this volatility – and to each other – will determine if 2017 extends the chaos or shapes a new world order.

The contrast between a collapsing neo-liberalism of the west and the much-welcomed new development model espoused and practiced by China is not to be missed.