Global Strategic Dialogue 2021:The Webinar for Open Global Economy

Yu Yongding, an academician at the Chinese Academy of Social Sciences:

China and the United States can escape the Thucydides trap if the two countries can find and fight against common enemies, including global warming and poverty, international terrorism, pollution and pandemics. Now, the most dangerous common enemy is COVID-19. Without close cooperation and coordination among all countries, it is impossible to win the war against COVID-19. Disruptions in the global value chains caused by COVID-19 have exposed the weaknesses of the GVCs. It is time for countries to reshape the GVCs to achieve a better balance between efficiency and safety. Participants in the GVCs need to redefine their own roles and positions.