As the world grapples with unprecedented challenges and uncertainties, one thing has become clear: A new era of great power competition calls for a new era of American global leadership. With Russia’s invasion of Ukraine catapulting the European continent into the largest land war since World War II and the Chinese Communist Party setting its sights firmly on Taiwan, America’s leadership on the world stage is vital. Democracy is under attack, and authoritarianism is on the rise as malign actors seek to create chaos and profit from its gain.

Though the United States has its fair share of domestic policy debates, we do not have the luxury of thinking we can solve our problems by only focusing internally. Too much is at stake: Our national security, economic prosperity, and values all depend on strong leadership that puts the country first while also protecting and safeguarding our national interests. It’s time to remind the entire world that America is no sleeping giant — we remain a powerful force for good.

This is not a partisan issue — it is an American one. We both served in senior positions in the government and are proud of our administration’s focus on national security. This is a message we have been bringing across the country and on Capitol Hill this year as part of a new foreign policy study group at the U.S. Global Leadership Coalition. It is critical to support America’s global leadership and ensure that foreign policy initiatives have a direct return on investment for American taxpayers. These goals are bipartisan and important to our country. We should not hide from the challenges we face. We should confront them head-on and pursue opportunities to promote the security and prosperity of all.

First, we must boldly confront China, which under the leadership of Chinese President Xi Jinping has embraced an increasingly dangerous and expansionist worldview. China is working in overdrive to dominate global influence, markets, and access to critical supply chains — and it’s working. Whether in Africa, Europe, or the Middle East, China is the leading trading partner of more than 120 countries and the European Union's largest external trading partner.

Over the last decade of available data, China’s investments in global development aid have grown by 430%. But these “investments” often come with significant strings for the countries involved, strings that only serve to strengthen Beijing and service its goals. Where the Cold War is often cited for its arms race, our current era will be known for its economic competition. And Americans can ill afford to cede this ground to China.

Second, we must continue to support our allies and confront authoritarian threats abroad, including Russia’s unprovoked and unjustified war on Ukraine. America’s military leaders have rightly warned that Russia’s war against Ukraine has created “significant security” threats that stretch “far beyond the European front lines.” Xi's recent visit to the Kremlin under the banner of their “no limits” partnership underscores the reality of these threats and the dangers of the increasing alignment of authoritarian regimes, from China to Russia to Iran.

But America’s global engagement should not be construed as America having to do it alone or, more importantly, to fund it alone. Our administration invested four years prodding NATO countries to shoulder more of their fair share of the burden for collective defense, and that effort is paying off. With the EU's latest commitment of 18 billion euros, it is now the biggest contributor of economic and humanitarian aid to Ukraine, and America ranks fifth globally in its support to Ukraine as a percentage of gross domestic product.

Transparency and accountability also remain key. The public should continue to press Congress and the Biden administration to ensure that we know where our taxpayer dollars are going and what they are accomplishing.

Our leaders can put America's interests first without retreating from the world. As Ronald Reagan said, “Our national interests are inextricably tied to the security and development of our friends and allies.” Now, more than ever, American leadership and engagement matter as we face significant threats that dramatically affect both global stability and security here at home.

Morgan Ortagus is the founder of Polaris National Security and a former spokeswoman for the Department of State. Adam Boehler is a managing partner of Rubicon Founders and the former chief executive officer of the U.S.  International Development Finance Corporation.