China and the U.S. officially signed the phase-one economic and trade deal in Washington on Jan. 15 local time. The international community believes that the signing of the deal is beneficial to China, the U.S. and the whole world at large.

Such analysis indicates that though the world has always been tested by the choice between isolation and opening in recent years, all countries share common aspiration for open cooperation, as the irreversible trend of economic globalization is a general consensus reached by the world.

The current situation further explains Chinese President Xi Jinping’s remarks at the World Economic Forum in Davos, Switzerland three years ago. On Jan. 17, 2017, Xi, in his keynote speech, put forward China’s understanding and proposals of economic globalization, shared Chinese solutions to global economic issues, and pointed out that China’s development is indeed an opportunity for the world.

Answering to the questions of the time, such as “what has gone wrong with the world” and “how should we respond”, Xi noted that in the face of both opportunities and challenges of economic globalization, the right thing to do is to seize every opportunity, jointly meet challenges and chart the right course for economic globalization. Hailed as “sunshine in the winter”, Xi’s speech has injected energy for economic globalization against a headwind.

Economic globalization has always been a hotspot issue for the international society since 2017. In the past three years, the economic globalization encountered increasing countercurrent and opposition, and the discussion over where this process should go has never ceased. As the world is going through debates and introspection over economic globalization, it is also suffering from negative impacts caused by certain countries’ unilateralism and protectionism.

Facts have made it crystal clear that economic globalization is a “double-edged sword” that both drives global development and causes new challenges.

The world calls for light of wisdom especially in the mist. In the past three years, on multiple international occasions such as the World Economic Forum, the G20 Summit, the Asia-Pacific Economic Cooperation Economic Leaders' Meeting, and Boao Forum for Asia, Xi’s speech delivered in Davos has been frequently quoted as it is able to help people eradicate confusion, treat economic globalization dialectically, draw advantages and avoid disadvantages, and explore the ways to eliminate the negative impacts of economic globalization.

Xi proposed to make economic globalization more open, inclusive, balanced and beneficial for all. This way, people of all countries will be able to share in the benefits of economic globalization and global growth. This bright prospect is what the world is working for.

Though protectionism is on a rising trend, open cooperation still enjoys stronger momentum. The latest results of trade liberalization and investment facilitation from Asia-Pacific to Africa, and from Europe to Latin America prove that only the path of seeking development through open cooperation represents the common aspiration of the world.

Truth speaks loud and will be heard.. Economic globalization has offered robust momentum for global economic growth, and promoted the circulation of commodities and capitals, the advances of technology and civilization, as well as the exchanges among different countries. It is an objective request raised by social production development, as well as a natural result of scientific and technological progress, rather than something made by certain people or countries.

Economic globalization may encounter problems and challenges, but the general trend of the integrated development of the world economy is unstoppable. Only by conforming to the trend can the world take control of the future. In the face of the global development issues, the world needs to enhance its confidence in open cooperation and jointly cope with risks and challenges to release more positive effects of economic globalization and better benefit every country and nation.

Ueli Maurer, President of the Swiss Confederation said Xi’s speech delivered at the World Economic Forum in Davos three years ago was still widely acclaimed by all so far when he visited China last April, and similar point of view is being expressed more and more frequently today.

The 2020 World Economic Forum is expected to kick off a few days later, where global leaders will give prescription over global economic issues and draw a blueprint for global development. Chinese wisdom is still worth learning in this process.

(Zhong Sheng is a pen name often used by People’s Daily to express its views on foreign policy.)