The heightened risk of a transatlantic trade war, as a result of rising protectionism, is mainly US driven and it is up to President Trump to show his willingness to compromise and up to China to keep taking actions to address US grievances. It would be a collective policy failure if the multilateral trade system were to collapse.
As discussed earlier, this multilateral global order is already undergoing a major transition with the emergence of strong regional poles. In light of the evidence provided above, I hope that my maintained hypothesis has convinced you that we are not facing an end of globalisation, but a new kind of globalisation with new regional poles or centres emerging already.