The Belt and Road Initiative for an intercontinental ecosystem: Strategic implications for multinational enterprises around the world

International trade and foreign direct investment (FDI), as well as other forms of cross‐border economic activities, are essential to globalization, even in the emerging era of neoglobalization as a unique balance between globalization and deglobalization. Despite the hype, globalization is a relatively new phenomenon. In the past few decades, international trade and FDI were largely regional in scope (Cantwell, Dunning, Rugman, 2003; Rugman Nambisan, Zahra, Shipilov Petricevic Teece, 2020; Witt, 2019; see Li, 2019 for a review).