I've heard that repeatedly and I used to believe it to; however I have been recently studying WW1 and found out there were many people back then who said pretty much the same thing. They said that no one would want a war things were too profitable and there was too much trade, they were terribly terribly wrong.

The problem is WW1 wasn't one big "let's go to war" like Hitler and WW2, WW1 was the effects of hundreds of little consequences, edge cases, and constraints upon individuals and nations that interacted in a way no one could see. I believe the same thing will happen again, and it will probably come as a result of a Pakistani-Indian conflict or something from Iran. It isn't something anyone can see right now, but its coming, just like no one would've guessed the assassination of an Archduke would lead to 10 million dead across Europe, in the same way it will be something we can't determine right now that will push upon the constraints, agreements and edge cases to push us towards another global war.

My non-expert POV says the problem isn't global trade it's unbalanced global trade. Everyone depends on China, so Xi has little incentive to fear economical reprisals.