Reglobalization: The Role of China

The 2008 U.S. financial crisis exposed fundamental weaknesses in the prevailing model of globalization and catalyzed forces reshaping its trajectory. While structural failures and acute shocks have disrupted globalization—and some observers describe a nascent era of deglobalization—we argue that globalization is neither waning nor ending. Instead, under current historical conditions, it is transitioning toward a more inclusive and equitable “reglobalization”. Rapid digital innovation, deepening regional integration, and greater emphasis on sustainable, health-conscious development are driving this transformation. China has played a prominent role in advancing reglobalization, as illustrated by its practices in the new energy and artificial intelligence sectors and its contributions to regional institutional cooperation. Nonetheless, reglobalization faces significant challenges, including resurgent geopolitical competition and sluggish global growth. Achieving genuinely inclusive and equitable outcomes requires prudently managing great-power rivalry, reconciling development with security imperatives, and preventing fragmentation of the global economic and trading system amid excessive securitization.