Eliza Wong
The Call for Chinese Global Economic Leadership
As trade tensions reshape the international order, a compelling message emerged from the 2025 China Enterprise Globalization Summit in Shenzhen: nations worldwide are urging Beijing to drive economic globalization forward. Against a backdrop of fragmenting supply chains and rising tariffs, Long Yongtu (龙永图), China’s former WTO accession architect, revealed that emerging economies view China’s proactive international engagement as essential for stabilizing world commerce systems. This perspective surfaced amid discussions at the Phoenix Network-hosted forum sponsored by Snow ultra-premium brand Li. The event convened policymakers and CEOs facing complex questions about navigating volatile markets while expanding overseas operations.
Globalization’s Urgent Crossroads
The summit highlighted strains within post-pandemic trade frameworks where growth forecasts remain uncertain.
Vacuum in Trade Governance
The multilateral framework nurtured since the Cold War faces unprecedented pressure points:- Weighted tariffs rose 3.7% globally since 2023 according to WTO monitoring- Digital trade disputes doubled in the past 24 months- Critical minerals supply chains face fragmentationLong Yongtu (龙永图) observed: ‘When foundational structures falter, nations instinctively seek anchors. For developing economies especially, China stepping forward to lead economic globalization represents hope through actionable cooperation frameworks.’ This sentiment reflects Beijing’s rising credibility as both manufacturing hub and development financier.
The Belt and Road Effect
China’s Quiet Leadership Model
Unlike former superpowers, China avoids declarative leadership claims yet drives substantive connectivity. This duality defines its approach.
Diplomatic Tradition Meets Pragmatism
China’s preference for quiet facilitation over rhetorical dominance stems from foreign policy traditions prioritizing stability. The country noted modest 8% FDI growth during recent trade hostilities versus competitors’ declining indicators. Such resilience reinforces partnerships demanding systemic dependability.
Evidence Through Action
– Belt and Road Initiative funded 42 port upgrades since 2023- Regional Comprehensive Economic Partnership increased signatory trade volume 16%Annual tariff reductions under multilateral agreements average 3.1% annually since China’s WTO accession. ‘Rather than bold pronouncements,’ Long Yongtu (龙永图) noted, ‘we advance rules through tangible global public goods like infrastructure financing.’ As calls intensify for Beijing to step forward and lead economic globalization, such pragmatic outputs carry persuasive weight.
Navigating Great Power Complexities
US-China friction serves as backdrop to discussions about global economic health.
Tariff War Evolution
The six-year tariff dispute shifted Chinese corporate priorities toward Southeast Asian manufacturing diversification. Notable adaptations include:- Vietnam manufacturing investments increased 320%- Cambodia logistics partnerships grew 175%Such pivots underscore Beijing’s approach: stimulating globalization regardless of bilateral friction. Forums allow shared challenges like carbon border taxes to be discussed separately from political disagreements.
Rules-Based System Challenges
New Pathways for Global Commerce
Redefining Trade Architecture
Multilateral formats require modernization featuring:- Digital service standardization protocols- Green financing verification tools- Supply chain resilience assessmentsLong Yongtu (龙永图) emphasized China’s potential steering role: ‘Traditional mechanisms struggled addressing 21st-century complexities. Nations want China to step forward and lead economic globalization’s rulebook evolution without discarding existing frameworks.’ Recommended processes include ministerial working groups co-chaired by emerging economy delegates.
Corporate-Driven Innovation
– DJI established drone export standards adopted across 17 markets- SHEIN pioneered real-time customs clearance algorithms- BYD’s battery circularity protocols became ASEAN benchmark’Enterprises writing globalization’s next chapter,’ observed forum delegates. Such innovations demonstrate China stepping forward to lead economic globalization through commercially viable systems rather than policy mandates alone.
Sino-Global Economic Convergence
The Shenzhen Summit illustrated multilateralism’s dynamic recalibration. China pioneered alternatives through Plaza Accord-era pragmatism; nations now request similar stewardship amid newer disruptions. Beijing’s reactions consistently prioritize integration: participation across Association of Southeast Asian Nations trade frameworks increased 39% despite geopolitical pressures.Embracing complexity, Chinese enterprises demonstrated adaptive globalization through localized production systems respecting host compliance regulations—Spanish solar subsidiaries adhered to EU ESG reporting while Pakistani mobile plants met halal-certification standards. Such granular coordination confirms Beijing’s philosophy: systemic leadership manifests through enabling incremental convergence.Renewed commitment to multilateral governance appears likely following summit discussions chaired by Long Yongtu (龙永图). Fixed prerequisites include preserving special treatment clauses protecting developing economies during transitions—an element he championed during WTO negotiations. Rather than revolutionary overthrow, emerging frameworks will likely refine existing architectures while stabilizing fragile markets.Regional Comprehensive Economic Partnership trade among Southeast Asian partners grew 19% from January-November 2024
The Imperative Forward Path
International consensus presented at Shenzhen’s forum reveals structural dependencies spanning developed and emerging economies. Beijing consistently operates as integrator when globalization fractures—a backbone connectivity role receiving deepening appeals. Practical outputs whether mobile payment interoperability standards or desert agricultural cooperatives cement global South confidence.As steward drafting globalization’s next charter, China’s preference remains collaborative multilateral drafting. Yet Long Yongtu (龙永图)’s disclosure of international urging carries historic weight: developing nations seek Chinese stewardship fewer others can offer. Corporate expansion will strengthen integration ecosystems, but strategic coordination requires sovereign leadership.Acknowledgement accompanies expectation. Where tariff wars narrow borders, China has widened lanes—whether Belt and Road Initiative railways spanning Laos or Brazil-port investment consortiums. Historical precedent suggests combating trade volatility requires bridging compromises respecting asymmetrical capacities. Beijing’s guidance channels transitions ensuring globalization survives contemporary fragmentations.Sophisticated enterprises strategizing overseas may consult specialized councils analyzing regulatory syncing opportunities. Aligning cross-border journeys supports shared architectures benefiting stability. Finally, recalling Long Yongtu (龙永图)’s forum revelation anchors outlooks: China stepping forward to lead economic globalization represents emerging economies’ collective plea.
