I was the sole Chinese speaker invited to the conference’s kick-off event and attended the report’s release. Having taken part in the Munich Security Conference’s side events for years, I reckon far more delegates this year were from the Global South, a reflection of rising multipolarity.

As US President Donald Trump’s agenda takes shape, many attendees seem to view China as a stabilising counterweight – a role China appears poised to embrace.

The conference’s thematic arc mirrors a broader reckoning. Three years ago, the debate over “collective helplessness” captured the disarray in the transatlantic sphere. Last year’s exploration of “lose-lose dynamics” framed the tensions of zero-sum competition. This year’s focus on multipolarisation reflects a world of dispersing powers – a transition turbocharged by Trump 2.0.

Trump’s tariff threats and deal-making instincts dominated Munich’s corridors, casting a shadow over discussions as attendees grappled with the implications of his aggressive trade agenda.

Amid this, Chinese Foreign Minister Wang Yi’s call for multilateralism resonated deeply, offering a counterpoint that emphasised cooperation over confrontation in a shifting geopolitical landscape. His vision of an “equal and orderly multipolar world” struck a chord with those seeking stability, while his critique of protectionism underscored China’s contrasting approach to global ties.

China’s actions – slashing tariffs to zero for over 40 least-developed nations last year, after waiving duties on 98 per cent of products from over 20 African countries – are a rebuttal to protectionism. These initiatives have yielded results, with Chinese imports from Africa increasing by 14 per cent year on year to US$60.15 billion in the first half of last year, according to China customs.

Such economic diplomacy has earned China accolades as a stabilising force in an uncertain world. Meanwhile, the Russia-Ukraine conflict has highlighted China’s potential as a peacemaker.

Trump’s plan, which bars Ukraine from joining Nato and relies on European forces to keep the peace, faces widespread scepticism. With Russian President Vladimir Putin likely to resist a Western-led peace corps, the Trump administration has shifted the dynamics: no US troops, relying instead on contributions from Europe and potentially elsewhere.

Here, China could take a leading role. Having contributed more UN peacekeepers in recent years than any other permanent UN Security Council member, China could spearhead a neutral force, possibly alongside India and Brazil.

Beijing’s diplomatic clout is growing, as seen from the Iran-Saudi Arabia rapprochement and Myanmar ceasefires. A UN-led effort could give Putin an exit, stabilising Eastern Europe and advancing a multipolar conflict resolution.

Economic tensions took centre stage at the Munich debates. In a closed-door session on economic security, I suggested countering Trump’s tariff hikes with reductions, mirroring the spirit of China’s visa-free entry policy for 54 nations, including the United States.

One representative – not from China – sparked enthusiastic comment by proposing a unified response: cutting tariffs as Trump raises them, maintaining open markets and reinforcing frameworks like the Paris Agreement and World Trade Organization to offset his policies. Such a strategy could dull the impact of protectionism, showcasing China’s resilience and reinforcing Beijing’s role as a pillar of multilateralism.

Trump’s deal-driven approach strains Western unity. In his conference speech, US Vice-President J.D. Vance targeted Europe’s vulnerabilities – restrictions on free speech, secular shifts – framing them, I believe, as leverage for trade negotiations. Reports of Trump’s phone call with Putin suggesting a thaw have further unsettled transatlantic confidence.

Departing from past military-centric agendas, Trump’s focus on economic wins over ideology signals a profound shift. At the conference, I suggested this could usher in a “grand triangle” era, with US-China-Europe ties shaped by practical agreements rather than dogma.

The world is evolving into a pluralistic order with China, the US and Europe as three interconnected pillars. Take the recent Paris AI Action Summit: China, France, Germany, indeed the entire European Union and dozens of countries forged a pact while the US and Britain stood apart.

Yet this multipolarity still lacks effective governance. The Munich Security Conference’s inclusivity, with growing voices from the Global South and women, marks progress, but global frameworks are lagging behind. The UN Security Council, WTO and Paris Agreement remain tilted toward Western interests, often marginalising emerging powers.

China’s diplomatic track record provides a potential model: its advocacy in expanding Brics to offer membership to the likes of Saudi Arabia and the United Arab Emirates amplifies the Global South’s voice. These nations crave a bigger role in global systems – perhaps via a reformed UN Security Council with permanent African and Latin American seats, or a trade pact to rival the WTO’s faltering reach.

Trump’s deal-making era challenges this emerging order. His economic focus – reflected in picks like ambassador to China David Perdue, a former Fortune 500 CEO, and Treasury Secretary Scott Bessent, a Wall Street veteran – might splinter alliances or spark new ones. China’s response – blending peacekeeping with openness – positions it uniquely.

China’s extension of visa-free access to countries such as the US and Canada, as I suggested at the conference, could amplify its soft power, while joint Belt and Road Initiative-EU Global Gateway projects in Africa could model cooperation across poles.

Munich made it clear: the multipolar world has arrived. Given this shift, with its diplomatic finesse and multilateral commitment, China can guide the new world towards peace and stability.