From a historical perspective, globalization and, for that matter, the world history has not been linear in its progress. There have been ups and downs as well as twists and turns. With several decades of fast growth of globalization, the world has reaped unprecedented benefits, but we have also seen the widening gap between the rich and the poor and deeper division between the capital and the labor as predicted by Karl Marx. So, the conclusion should be that globalization will continue but with a different paradigm or narrative, thus ushering in a new era of “reglobalization” wherein China is called upon to play a key role of leadership. China’s President Xi Jinping is going to Davos World Economic Forum in January 2017 which again indicates that China attaches great importance to “make globalization and global governance work again” even though now globalization is somewhat in shatters and in urgent need of changes.