The world took a huge breath and exhaled with an even deeper sense of relief to see the presidents of China and the United States shaking hands and smiling about the modest trade war truce their staffs had brokered — an agreement that prevented the global economy from being shot in the foot.

President Xi Jinping and US President Donald Trump avoided piling on additional tariffs and loosened the withholding of rare earth metals essential for modern technology — electronics, electric vehicles and defense systems among them. Hooray for a breather, one that hopefully provides space to engage meaningfully on the vexing challenges confronting both nations and the world.

The truce buys time as the US seeks leverage to maintain its dominance in the 21st century, while China aims to grow more capable of defending its own interests in a new world economic order. But as we all know, if there's a hole in your roof, pretending to fix it doesn't keep the rain out. Sooner or later, the hole must be repaired.

While the latest truce merely kicks the can down the road, both nations must grapple with how we will coexist as this century unfolds.

Fundamental issues still threaten to erode the patched-over China-US power dynamic — from climate change and pandemic prevention to global economic stability, nuclear proliferation, artificial intelligence, food security, control of sea lanes, and transnational crimes such as money laundering, cyber fraud, and human and drug trafficking.

These global challenges demand the focus of both nations. Let's be clear: Neither China nor the US is going to fade away anytime soon.

Mutual coexistence, respect and problem-solving are the only rational path forward. It's encouraging, at least for now, that what I call the 7 Cs seem to be guiding the relationship: communication, collaboration, cooperation, coordination and competition, while avoiding unnecessary confrontation and conflict.

I would like to see a nongovernmental, bilateral, subnational group of thought leaders from both China and the US come together for on-going, candid conversations about the issues that divide us — similar to, but hopefully more effective than, the US Congressional bipartisan Problem Solvers Caucus. The goal would be to enhance trust and cooperation, building problem-solving scaffolding for conflict avoidance.

Such a forum could generate thoughtful, pragmatic and wisdom-inspired "win-win" scenarios that prevent the Thucydides Trap. The rise of China and the apprehension the US has felt should not make conflict — or worse, war — inevitable.

To believe the US can "contain" China's rise is as unrealistic as thinking a chain-link fence can hold back a tsunami.

I'm not in a position to tell China how to strengthen its nation, but I do have ideas for my own country — ideas I've advocated for more than two decades.

The US must invest in the US — in its people — and strengthen relationships with our allies if we wish to remain a relevant global leader. Yet today, under the current administration, the poor and hungry have been defunded while massive tax breaks have gone to corporations and the ultra-wealthy, causing internal instability.

Despite the US administration's triumphant boasting at the United Nations that "America is blessed with the strongest economy, the strongest borders, the strongest military, the strongest friendships, and the strongest spirit of any nation on the face of the Earth. This is indeed the Golden Age of America", the reality is that the US is falling behind.

Massive deficit spending, a shrinking and aging talent pool, a divided nation and weakening global alliances, and walking away from global institutions we helped create are undermining our strength. China's faster shipbuilding capacity, superior submarine fleet and advances in military technology are closing long-held gaps. Meanwhile, the US is underinvesting in research, infrastructure, higher education and — most crucially — its people.

The US and China would do well to heed Henry Ford's wisdom: "Coming together is a beginning. Keeping together is progress. Working together is success."

The people of the US, China and the wider world are all passengers on the China-US Express. We need our leaders to navigate wisely and keep it on track — because if they fail, it will truly "shake the world".

The world demands honest, respectful communication and collaboration between our nations. Together, we must pursue a mutually beneficial unity that delivers a win-win future our grandchildren and great-grandchildren will thank us for.

We need to replace chaos with predictability — and repair the structure that keeps us all dry.

Wishful? Naive? Hopeful? Absolutely. But the alternative is unthinkable. Let's fix the hole in our roof — together.

The author is a former Michigan state superintendent of education.

He has traveled extensively in China. The views do not necessarily reflect those of China Daily.