In depth analysis of the challenges and transformations facing current international economic and trade governance, it is pointed out that the rule system established after World War II is no longer suitable for modern international reality, and global economic and trade governance is in a deep game stage of alternating old and new rule systems. The report of the 20th National Congress of the Communist Party of China emphasizes that China should actively participate in the reform and construction of the global governance system, promote the better functioning of multilateral mechanisms, and advance high-level opening-up and institutional opening-up. Existing research has conducted preliminary studies from different perspectives such as international economics, international relations, and international economic law, but there are problems with clear disciplinary boundaries and insufficient relevance. This article takes an interdisciplinary perspective and uses the three element analysis framework of the international economic order to explore how China can promote the reform and construction of the global economic and trade governance system through value guidance, rule output, and institutional arrangements, providing reference for Chinese characteristic theory and practical guidance.

1、 The Connotation and Analytical Framework of Global Economic and Trade Governance

Firstly, the basic connotation of global economic and trade governance was clarified, and its differences from global economic governance were pointed out, emphasizing that global economic and trade governance focuses more on the research perspective of rules. Subsequently, the adjustment content of global economic and trade governance was analyzed, including international economic activities such as international trade, international investment, and international finance, as well as the "three pillars" established after World War II: the General Agreement on Tariffs and Trade/World Trade Organization, the World Bank, and the International Monetary Fund. Then, the background of China's participation in global economic and trade governance was discussed, including the changes and developments in the international economic order, as well as the concepts of the old and new international economic order. Finally, a three element analysis framework was proposed, including dominant values, international norms, and institutional arrangements, to study how China participates in global economic and trade governance, including the values it should uphold, the international rules it exports, and the institutional arrangements it creates.

2、 The value guidance of China's participation in global economic and trade governance: inclusive development

In depth exploration of the collision of traditional values in global economic and trade governance and the condensation of value demands in the new era, emphasizing the value leadership challenges faced by China in participating in global economic and trade governance. The article analyzes the values of mercantilism, liberalism, and state trade in different historical stages, and points out that after World War II, Western countries led by the United States established market-oriented values of free trade. However, developing countries have challenged this value system, believing that the free trade model has not helped them escape poverty and has instead exacerbated their economic colonization. The New International Economic Order movement successfully proposed new values such as "sustainable development and fair and just trade", which influenced the formulation of international rules.

3、 The output of rules for China's participation in global economic and trade governance: upholding integrity and innovation

We delved into China's strategy of exporting rules in global economic and trade governance, emphasizing the importance of upholding integrity and innovation. The article points out that international economic and trade rules should reflect the concept of inclusive development, the market-oriented free trade concept of coordinated development, and the fair and just trade concept. China should actively participate in the creation of new rules and the reform of old rules, with promoting development as the core, reflecting the new forms of international economic and trade activities, such as intellectual property protection, liberalization of service trade, and the creation of digital economy rules. At the same time, China should maintain the stability of international economic and trade activities, pursue a balance between freedom and security, strengthen procedural control of national security measures, and international coordination.

4、 Institutional arrangements for China's participation in global economic and trade governance: both breaking and establishing

Emphasis was placed on the importance of institutional arrangements in promoting global economic and trade governance, pointing out that they serve as a guarantee for the clash of values, the game of rules, and the enforcement of rules. The article reviews the three major institutional arrangements established by developed countries after World War II, as well as the historical lessons learned from the failure of developing countries in the international economic new order movement due to the lack of independent institutional arrangements. The article proposes that in order for China and other developing countries to effectively participate in global economic and trade governance, effective measures must be taken in institutional arrangements.

5、 Conclusion

China has participated in the international economic new order movement since the 1960s, integrated into the Western free trade system after the reform and opening up, and reached its peak after joining the World Trade Organization. Currently, China is actively promoting the reform and construction of the global economic and trade governance system, demonstrating corresponding capabilities. Global economic and trade governance is showing a decentralized trend, and the existing governance models and conceptual functions are insufficient. China should confidently lead international values, advocate the concept of inclusive development, abide by integrity, innovate, participate in rule innovation and game theory, and promote the coordinated development of free trade and fair and just trade. At the same time, by reforming existing mechanisms or creating cooperation mechanisms, we can enhance the representation and voice of emerging market countries and developing countries in global economic affairs, and promote the development of a more balanced global economic and trade governance system.