Trade, law and a shared multipolar order

The shifting tides of international economic exchange can be translated into a positive force for a resilient framework where innovative achievements truly scale for the benefit of all

The World Economic Forum's 2026 Annual Meeting of the New Champions, also known as the Summer Davos, which is being held in Dalian from Tuesday to Thursday, arrives at a critical juncture for the global economy. With the theme "Innovating at Scale", the meeting covers five core questions: how to find prosperity amid shifting trade, how to understand China's next chapter, how to harness technology for the real economy, how to create jobs for the next generation, and how to turn the energy transition into a source of competitiveness. These questions cannot be solved in a geopolitical vacuum. The world must confront a fundamental reality: The unipolar era has conclusively given way to a multipolar world.

In this new landscape, the primary challenge is to reconcile legitimate domestic interests with an unyielding respect for multilateral institutions. In recent years, the rise of unilateralism and protectionism has disrupted globalization. Some major Western countries prioritize their national interests over the collective will of the international community and consider themselves above international law. This behavior runs counter to the trend of multilateralism.

At the heart of this multipolar architecture stands the United Nations. Thus, there is an urgent need to revitalize the UN as the major multilateral platform for global decision-making. And international trade requires clear, predictable and universally accepted rules. The alternative is a fragmented system governed by the perilous doctrine that "might is right".

True global leadership means a voluntary and unequivocal adherence to international law. The greatest interest of any nation is the preservation of peace. Conflict is the ultimate disrupter of economic progress and supply chain stability. Adhering to common international laws is not a surrender of sovereignty; on the contrary, it is the highest expression of enlightened national interest.

Portugal has consistently championed multilateralism in the past years. And this commitment has been recognized with Portugal's recent election to be a non-permanent member of the UN Security Council for the 2027-28 term, where it will carry a mandate to act as a principled facilitator of a global equilibrium.

This philosophy of championing law over raw power translates into Portugal's modern economic strategy. As global value chains seek resilience and diversification, Portugal has emerged as a critical logistics partner. Positioned at the crossroads of Europe, the Atlantic and global maritime routes, anchored by the deep-water Port of Sines, Portugal offers a reliable gateway bridging Asia, the Americas and continental Europe.

Furthermore, as the global economy undergoes a green and technological transition, Portugal is integrating into the reindustrialization of Europe — within the broader framework of the European Union — focusing on green mobility, renewable energy and digital infrastructure. For international investors, Portugal provides not just a logistical gateway, but institutional predictability and strategic autonomy. Chinese investment has started to take root here, most notably the CALB battery factory in Sines, a strategic asset for Europe's electric vehicle supply chain. Yet the full potential remains untapped. Portugal possesses the renewable energy capacity and location to host data centers and EV assembly plants, sectors where recent Chinese investment tends to flow. Realizing this potential will depend on the usual factors: predictable licensing, competitive grid access and the kind of geopolitical signaling that reassures rather than confuses long-term partners. For Chinese industrial leaders, Portugal offers a stable gateway to European and Portuguese-speaking markets, provided that conditions for investment continue to mature.

As China enters its 15th Five-Year Plan (2026-30) period, its "next chapter" is unfolding to the world. While pivoting toward high-quality development with new quality productive forces and green innovation, China's role in global development and global governance can be upgraded by integrating itself further into global value chains and sharing more development opportunities with other countries.

Meanwhile, platforms such as the China International Supply Chain Expo demonstrate that decoupling is an economic illusion; interdependence remains defining. Initiatives such as the Belt and Road Initiative offer a stellar example for rules-based cooperation. Portugal was among the first Western European countries to formally support the BRI. For the Portuguese, the initiative has always represented more than infrastructure. It embodies connectivity across trade, finance, innovation and people-to-people exchanges.

The trade and economic outcomes between Portugal and China reflect that true partnerships can lead to win-win cooperation. Portugal refuses to blindly follow unilateral directives from any hyperpower, and its engagement with China is based on an equal footing, transparency and adherence to international law.

Looking ahead, three practical steps deserve urgent consideration.

First, a renewed commitment to the UN Charter — to strengthen early-warning mechanisms and mediation capacities, and to prevent conflicts before they require Chapter VII interventions — action with respect to threats to the peace, breaches of the peace and acts of aggression.

Second, the exploration of a regular "multipolar dialogue" among the EU, China, the United States and other parties, not as a rival to the UN but as a forum for moderating strategic competition before it escalates into trade or military hostility.

Third, leveraging existing platforms such as the Forum for Economic and Trade Cooperation between China and Portuguese-speaking Countries (Forum Macao) and a series of China-advocated initiatives to pilot "rules-based economic corridors", where trade, investment and infrastructure respect voluntarily agreed international standards.

The discussions in the Summer Davos, therefore, can look beyond immediate economic metrics. Trade cannot be weaponized, nor can international agreements be treated as optional commitments.

As a country with deep historic ties to China, Portugal stands ready to champion this balanced path. By combining economic pragmatism, logistical excellence and an unwavering defense of the UN, Portugal can help ensure that the shifting tides of global trade lead not to fragmentation and conflict, but to a resilient, multipolar order where innovation truly scales for the benefit of all.

The author is the secretary-general of the Portugal-China Chamber of Commerce and Industry.

The author contributed this article to China Watch, a think tank powered by China Daily. The views do not necessarily reflect those of China Daily.

Contact the editor at editor@chinawatch.cn.