We are facing a new kind of globalization that is fraught with complex, interrelated challenges. These challenges include the uncertainty from global restructuring, worsening inequality, underprovision of global public goods leading to “public bads” (such as environmental degradation, terrorism, spread of diseases, and human rights abuses), and erosion of social cohesion due to the proliferation of disinformation, among other factors. These challenges, if not managed well, can undermine the ability of the Philippines to sustain its rapid economic growth and attain its long-term development vision “AmBisyon Natin 2040” of a Matatag, Maginhawa, at Panatag na Buhay” and targets under the Sustainable Development Goals. Nevertheless, we can effectively navigate this new globalization. We can deal with its challenges and harness the opportunities it brings through relevant and timely local actions that are guided by a shared vision of prosperity and inclusivity, collaborative partnerships, wider and deeper participation of all sectors of society, and adaptive, evidence-based policymaking.