China's President Xi Jinping attends a news conference after the closing of G20 Summit in Hangzhou, Zhejiang Province, China, September 5, 2016.
Damir Sagolj / Reuters

Over Labor Day weekend, the leaders of the G-20 countries gathered in Hangzhou, China, for their annual summit. Their goal this year: save the good name of globalization, which has recently taken a beating. In the wake of Brexit, the U.S. Republican presidential candidacy of Donald Trump, the rise of the European far right, and China’s own anti-Westernism, the G-20 leaders were supposed to renew their commitment to collective economic growth and open cross-border trade and investment.

Trouble is, few of the member countries, including China, are interested in promoting these goals in the short term. The United States’ stance on trade is growing increasingly protectionist. Both presidential candidates oppose the Trans-Pacific Partnership trade agreement on grounds that U.S. workers and industry will come out on the losing end. Chinese investment destinations such as Germany, the United Kingdom, the United States, and Africa are refusing ever more

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  • REBECCA LIAO is the Director of Business Development at Globality, Inc. She is also a writer and China analyst.
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