In a world swaying between multipolar tensions and mounting crises, the meeting between President Xi Jinping and United States President Donald Trump in Busan, the Republic of Korea, could mark a turning point in global stability. Amid the world’s uncertainties exacerbated by wars, inflation, protectionism and climate anxiety, this long-overdue dialogue between the world’s two largest economies is a welcome breath of reason.

Both leaders seem to have recognized what Xi calls “the only correct choice”, which is dialogue and cooperation. Recent years of chaotic tariffs, sanctions and technological decoupling have yielded not security but uncertainty. What the world now needs is not escalation, but enlightened pragmatism.

The deeper significance of the Busan summit lies in something more profound and a source of cautious optimism — the restoration of channels of trust between Beijing and Washington after years of fracture.

President Xi’s metaphor of recalibrating the course of the “giant ship of China-US relations” accurately captures the moment’s gravity. For two rival superpowers to even attempt a course correction after years of trade friction and security suspicion is, in itself, an act of high statesmanship. Trump, for his part, has spoken of seeking “a very comprehensive deal”, emphasizing cooperation in trade and shared global concerns.

The economic stakes are immense. Together, China and the US account for more than 40 percent of global GDP. Their trade disputes have rattled markets, disrupted production and undermined confidence. Since the two sides agreed at the Busan summit on at least a partial thaw regarding tariffs and rare earth exports, this could stabilize currencies, spur commodity markets and revive business optimism from Shanghai and Shenzhen to Silicon Valley.

Both nations, amid slowing economic growth and social strains, share one imperative — peace through prosperity. For ordinary citizens worldwide, cooperation between the two economic giants translates to jobs, stability and hope.

The renewed US-China communication could help untangle global crises. Both powers hold considerable influence on the Ukraine and Gaza conflicts. When Washington and Beijing talk peace — even indirectly — diplomacy gains momentum and extremism loses ground.

History shows that when the US and China cooperate, humanity benefits. Their detente in the 1970s helped normalize trade and unleash Asia’s rise. Their coordination during the 2008 financial crisis steadied collapsing markets. Today, as climate change intensifies and artificial intelligence reshapes economies, a stable US-China relationship is again indispensable to human progress.

Skepticism may continue to persist. Some hawks could still warn against “appeasement”. Yet diplomacy demands courage and wisdom — not the noisy bravado of confrontation but the patience of engagement. As Xi remarked, steering clear of “disturbances and disruptions “requires vision and restraint.

Even Trump, often combative, has conceded that the US wants the Chinese economy to do very well, saying that “working together, we can get a lot of great things done”. That pragmatic optimism echoes the founding spirit of the Asia-Pacific Economic Cooperation forum — shared growth through cooperation.

The handshake of the two leaders on Thursday in Busan could resonate beyond the Korean Peninsula — across the war zones of the Middle East, the icy steppes of Ukraine, and the anxious stock trading floors of every continent.

As humanity faces intertwined crises — from climate chaos to bewildering technological disruption — Thursday’s meeting, which raised some hope for rekindling bilateral cooperation, offers proof that reason has not yet surrendered to rivalry. When Beijing and Washington work together, the engines of global growth shall hum once more, and humanity will edge closer to the elusive promise of stability and peace.

The author is an economics and politics analyst, an award-winning columnist of The Philippine Star and Abante newspapers, and moderator of the Pandesal Forum.

The views do not necessarily reflect those of China Daily.