At the turn of the second and third decades of this century, the global economic dynamics is again deteriorating. The crisis is likely to be not only cyclical, but also systemic. Over the decade, globalization has stopped and a new trend coined as «de-globalization» started - a decrease in the role of external factors in the world economic development. The situation at the beginning of 2020 was aggravated by the global economic collapse due to sanitary measures taken in the leading countries of the world due to the coronavirus pandemic. Deglobalization fully manifested itself in China, which never lost sight of the importance of independence and self-reliance. China pretends to keep globalization going on - taking into account emerging problems and the necessary adjustments. The country has already launched the Belt and Road initiative as an alternative to hyperglobalization. The relationship between openness and self-reliance in China is interpreted dialectically: openness to strengthen the ability to rely on one’s own forces, relying on one’s own forces, to open the economy even wider. The new role of China in world and regional affairs is combined with the usual manner of bilateral and multilateral consultations. It seems that this particular country is capable of giving favorable impulses to the economy of its neighbors in the near future. Now the main thing on the agenda was to overcome the economic downturn caused by tough measures to combat the epidemic. The various measures taken by the Chinese leadership are now of no less interest than the further fate of globalization.